News & Analysis as of

Illinois Banks

Sheppard Mullin Richter & Hampton LLP

Illinois Delays Interchange Fee Ban by One Year

On June 1, the Illinois General Assembly passed a bill that, if enacted, will delay the effective date of the Interchange Fee Prohibition Act by one year, from July 1, 2025, to July 1, 2026. The law prohibits financial...more

Ballard Spahr LLP

Illinois swipe fee injunction extended to cover out-of-state banks, but not federal credit unions

Ballard Spahr LLP on

Chief Judge Virginia Kendall of the Northern District of Illinois has extended her preliminary injunction prohibiting Illinois from enforcing the Illinois Interchange Fee Prohibition Act (the “IFPA”) to cover out-of-state...more

Moore & Van Allen PLLC

Developments in National Bank Act (NBA) Preemption: Illinois’ Interchange Fee Prohibition Act is Held Preempted by the NBA; Ninth...

Moore & Van Allen PLLC on

For followers of developments related to National Bank Act (NBA) preemption and the United States Supreme Court’s related decision in Cantero v. Bank of America, N.A., 602 U.S. 205 (2024), the waning days of 2024 proved...more

Katten Muchin Rosenman LLP

BIPA: What Recent Court Decisions Mean for the Financial Industry

Class action plaintiffs' firms — spurred on by a significant recent expansion of available damages for biometric privacy suits — have begun targeting the financial industry. The Illinois Biometric Information Privacy Act...more

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