SPRINGFIELD – The Illinois Retail Merchants Association (IRMA) released the following statement regarding a lawsuit filed challenging the Interchange Fee Prohibition Act, which was enacted as part of the FY2025 state budget:
“This lawsuit was expected, and it’s no surprise credit card companies would do all they can to undermine this law and maintain their ability to unilaterally impose exorbitant processing fees on workers’ tips and taxes on consumer purchases,” said Rob Karr, president and CEO, Illinois Retail Merchants Association. “We once again applaud Gov. JB Pritzker and legislators for their support of the Interchange Fee Prohibition Act, which would provide tangible relief to Illinois workers, families, and retailers of all sizes and types by limiting the fees financial institutions can charge on the sales and excise tax and tips portion of transactions.”
About the Illinois Retail Merchants Association (IRMA) One of the largest state retail organizations in the United States, IRMA serves as the voice of retailing and the business community in state government. Founded in 1957, IRMA represents more than 23,000 stores of all sizes and merchandise lines. From the nation’s largest retailers to independent businesses in every corner of the state, merchants count on IRMA to fight for the best possible environment in which to do business in Illinois. For more information, visit https://irma.org. |