Consumer Finance Monitor Podcast Episode: Understanding the Federal Reserve Board Proposal to Lower Interchange Fee Cap for Debit Card Transactions
On May 29, 2024, Illinois rocked the payments world by passing the Interchange Fee Prohibition Act (“IFPA”) into law. With an effective date of July 1, 2025, the law would upend the way in which interchange is calculated in...more
Illinois has become the first state to enact restrictions on credit and debit card interchange fees – commonly known as swipe fees – linked to taxes and gratuities. The Interchange Fee Prohibition Act (the “Act”), embedded as...more
With the October 1, 2015 liability shift deadline looming, merchants who have not yet made the change continue to evaluate the cost of accepting EMV cards versus the liability that will shift from the issuer to the merchant...more