The American Bankers Association, Illinois Bankers Association, America’s Credit Unions and the Illinois Credit Union League issued the following statement after the Illinois General Assembly voted to delay implementation of the Illinois Interchange Fee Prohibition Act (IFPA) for one year:
"We welcome the Illinois General Assembly's decision to once again delay the IFPA implementation deadline for another year. This reasonable step will protect Illinois businesses and consumers from facing payment chaos in just a month, without interrupting our ongoing legal challenge to IFPA. We remain confident in the strength of our case and look forward to securing permanent relief from this misguided law."