Interchange Fee Law Vetoed In Colorado, And Delayed In Illinois And Judge Issues New Decision Following Occ Preemption Action

It has been a busy week for interchange with potentially big wins for some banks! The Colorado legislature passed a bill banning banks from charging interchange fees on tips and sales tax, similar to an Illinois law, the Illinois Interchange Fee Prohibition Act (“IFPA”), but the Colorado governor vetoed the Colorado law, referencing the controversy surrounding the Illinois law.
Read More