FMI Condemns Federal Regulators for Overriding Illinois Swipe Fee Law
FMI, the Food Industry Association, strongly condemned federal regulators for overriding Illinois' interchange fee law, which aimed to prohibit swipe fees on state and local taxes. The Office of the Comptroller of the Currency (OCC) issued rules that block similar legislation in other states. The decision is seen as conflicting with President Trump's affordability agenda.
Topics: credit card fees federal regulators FMI Illinois law interchange fees