Banking and credit groups opposed to a new Illinois law banning certain credit card fees argued before a federal judge on Wednesday that the regulation would be costly to financial institutions and is preempted by existing federal law for national, state and out-of-state banks. The hearing on a request for a preliminary injunction followed months of complaints from the banking industry that Illinois’ first-in-the-nation law will hurt their business and cause headaches for consumers.
Comment on Banks ask federal judge to block state law banning certain credit card fees
Olivia Olander, Chicago Tribune: Business
Wed, 10/30/2024 - 4:51pm
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