Illinois’ ‘swipe fee’ law on the brink after another delay, adverse court ruling – Capitol News IL

U.S. District Judge Virginia Kendall in February ruled that the law could take effect, based largely on her interpretation of administrative rules written by the federal Office of the Comptroller of the Currency, an independent subsection of the U.S. Treasury. But the OCC, in a pair of April filings, rewrote the language at question and issued an order specifically preempting Illinois’ law.