According to Payments Dive, over 30 US states have introduced bills aimed at providing relief from interchange fees, while the Illinois Interchange Fee Prohibition Act is being challenged in court. The push for state-level regulation continues despite ongoing legal disputes.
For banks, payment firms and their legal advisers, this signals a patchwork of potential new rules and ongoing litigation risk. State actions could affect card fee structures and compliance requirements. Senior leaders should monitor court decisions and state legislative activity closely.
