Durbin Files Second Amicus Brief In Support Of Illinois Interchange Fee Prohibition Act
WASHINGTON, D.C. – U.S. Senate Democratic Whip Dick Durbin (D-IL), Chair of the Senate Judiciary Committee and author of the Durbin Amendment, filed an amicus brief in the District Court for the Northern District of Illinois in support of the state’s Interchange Fee Prohibition Act (IFPA), a state law that bars charging interchange fees on the tax and tips portion of credit and debit card transactions. In August 2024, the Illinois Bankers Association filed a lawsuit, Illinois Bankers Association v. Raoul , claiming that the IFPA is preempted by federal law. Last month, the Illinois Bankers Association filed a motion for summary judgement, in which they argue that the 2010 Durbin Amendment preempts the IFPA from reducing interchange fees below what is outlined in the current regulations. The motion also argues that the IFPA will threaten an alleged “national payments system,” despite there being no such system for credit and debit card transactions. This
stLouIST