News & Analysis as of

Interchange Fees Banking Sector

Sheppard Mullin Richter & Hampton LLP

Swipe Fee Saga Continues: OCC and Trade Groups Clash with Illinois AG

The banking industry’s efforts to challenge a new Illinois law banning interchange fees, also known as “swipe fees,” on tax and tip payments gained significant momentum when the OCC criticized the law as an “ill-conceived”...more

Orrick, Herrington & Sutcliffe LLP

OCC files amicus brief supporting a preliminary injunction on the Illinois’ Interchange Fee Prohibition Act

On October 2, the OCC filed an amicus brief supporting several banking associations’ motion for a preliminary injunction against the Illinois Interchange Fee Prohibition Act (IFPA or the Act) in the U.S. District Court for...more

Orrick, Herrington & Sutcliffe LLP

Bank associations sue Illinois to prevent interchange fee act from effecting

On August 15, several banking and credit union associations sued the Illinois Attorney General to prevent the state from implementing the Illinois Interchange Fee Prohibition Act (the “Act”). As covered by InfoBytes, the...more

Orrick, Herrington & Sutcliffe LLP

Illinois enacts Interchange Fee Prohibition Act within state budget

Recently, the Governor of Illinois signed into law the state’s new budget (the “budget”) which will include a provision cited as the Interchange Fee Prohibition Act (the “Act”). The Act’s language was originally proposed as...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2024

OCC Requests Public Comments on Proposed Bank Merger Policy Statement and Rules The OCC has proposed a new policy to increase the transparency of the standards that the agency applies to review business combinations involving...more

American Conference Institute (ACI)

[Event] 24th National Forum on Prepaid Accounts Compliance - April 8th, New York, NY

The 24th National Forum on Prepaid Accounts Compliance will address the latest developments impacting the prepaid industry and provide answers to the most pressing questions and challenges being faced by practitioners in this...more

Wilson Sonsini Goodrich & Rosati

The Fed Proposes a Sea Change in Debit Card Interchange Fee Regulation

The Federal Reserve Board has proposed a new rule for public comment that would significantly lower the cap on interchange fees that debit card issuing banks (issuers) may charge a merchant’s bank (an acquiring bank) for...more

Hogan Lovells

Payments regulatory news, July 2020

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Recent regulatory developments include the UK FCA/PSR update on mapping and an EU Commission review report on the Interchange Fee Regulation....more

Ballard Spahr LLP

Financial Choice Act slated for House floor vote during week of June 5

Ballard Spahr LLP on

On May 26, the House of Representatives Committee on Rules announced that House members have until June 2 to propose amendments to the Financial Choice Act bill. The Chairman of the House Financial Services Committee, Jeb...more

Hogan Lovells

Global Payments Newsletter, March 2017

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Welcome to the Hogan Lovells Global Payments Newsletter. In this monthly publication we provide an overview of the most recent payments, regulatory and market developments from major jurisdictions around the world as well as...more

Troutman Pepper

When Classes Collide: Court Rejects $7.25 Billion Visa/MasterCard Settlement, Competition News Volume 2016, Issue 1

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The Second Circuit’s decision highlights that, whenever there are groups of plaintiffs that will obtain different categories of relief as a part of a settlement, both plaintiffs and defense counsel should seriously consider...more

Bryan Cave Leighton Paisner

The Economist Frames the Argument Against Excessive Bank Regulation (somewhat unintentionally)

On March 26, 2016, The Economist published an article entitled “The Problem with Profits.” That article discussed the high profitability of U.S. firms and why that seemingly positive fact is actually harmful to the overall...more

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