The Illinois Bankers Association and its co-plaintiffs have filed their opening appeal brief in our ongoing lawsuit challenging the Illinois Interchange Fee Prohibition Act (IFPA), continuing efforts to overturn the law’s interchange provisions.
While the trial court previously ruled in favor of the plaintiffs in striking down the data usage provision, it did not grant relief from the interchange components of the law. Our appeal to the Seventh Circuit now seeks to obtain relief from that portion of the law. The Attorney General has also filed a cross-motion for appeal.
In support of the IBA’s appeal, five amicus curiae briefs were submitted, from the Office of the Comptroller of the Currency (OCC); a bipartisan group of former OCC Comptrollers; the Bank Policy Institute, Consumer Bankers Association and The Clearing House Association; and the Electronic Payments Coalition and the Electronic Transactions Association.
The OCC and former Comptroller briefs are particularly beneficial to our case. In their brief, the OCC urges strongly for overturning the trial decision on interchange, noting that “IFPA and laws like it would dismantle the uniform rules and interoperability that are necessary for the smooth and effective delivery of banking services across the country…”
The former Comptrollers likewise attack the trial court’s decision: “The district court…erred by resolving the NBA preemption issue in this case by reference to whether the banks “set” the fees themselves… The IFPA prevents and significantly interferes with the exercise of national bank powers because it would prohibit national banks from collecting fees for their services in Illinois.”
The Illinois Bankers Association and our co-plaintiffs will continue to advocate for repeal of the law and remain committed to protecting Illinois banks and the customers they serve.