12+ hour, 20+ min ago   (233+ words) President Donald Trump at the inaugural Republican midterm convention in Dallas revived his push to cap credit card swipe fees in a nearly two-hour address that also promised Americans a $5,000 payday if the GOP stayed in power. Wednesday's comments mark…...

3+ mon, 1+ week ago   (514+ words) With less than five weeks until a contentious Illinois law reshapes how credit-card transactions are processed, the banking industry is pressing a federal judge to rule quickly. In a filing Wednesday in the U.S. District Court for the Northern District of…...

3+ mon, 3+ week ago   (401+ words) WASHINGTON — The National Credit Union Administration Tuesday submitted a rule asserting that federal law preempts an Illinois statute banning the collection of interchange fees on taxes and tips. The rule, sent to the Office of Management and Budget's Office of…...

3+ mon, 3+ week ago   (651+ words) If there's a "biggest" story in the payments industry over the past decade, it has been the massive migration toward digital wallets, contactless transactions and a parade of new electronic methods that are always threatening to make paper money extinct....

4+ mon, 1+ week ago   (675+ words) Critics of interchange fees say payment systems are opaque, making it impossible to know what interchange fees are charged on any given transaction. The Illinois Interchange Fee Prohibition Act, signed into law by Governor J.B. Pritzker in 2024, would bar banks and…...

4+ mon, 3+ week ago   (554+ words) The Office of the Comptroller of the Currency this week sent a draft rule to the Office of Management and Budget that would preempt an Illinois state law banning the collection of interchange fees on taxes and tips. A notice…...

6+ mon, 2+ week ago   (568+ words) In the latest battle over an Illinois law that bans certain "swipe" fees, lenders have appealed a court ruling that largely left the law standing. That law, the Illinois Interchange Fee Prohibition Act, prohibits interchange fees on the tax or…...

7+ mon, 1+ hour ago   (887+ words) "This is a close case," Kendall wrote. "That is true in part because the law it addresses is novel. The Parties have indicated that no other State has an equivalent to the [Interchange Fee Prohibition Act,] and thus no precedent…...

5+ mon, 3+ week ago   (550+ words) There's good news and bad news for banks in buy-now-pay-later lending. The good news is that banks offering the service are getting high marks from customers; the bad news is that many still don't have a BNPL offering, and those…...

9+ mon, 3+ week ago   (852+ words) Debit card rewards programs are back, and likely here to stay. Airlines and hotel chains are taking advantage of the banking-as-a-service model and the pass small banks get on interchange fee caps to revitalize debit card rewards programs. United Airlines…...