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There’s No End To Credit Card Swipe Fee Greed
Monday, Feb 3, 2025 - Posted by Advertising Department [The following is a paid advertisement.] Credit card companies collect more than $172 billion in swipe fees from customers and businesses each year, but it’s not enough to satisfy their greed. As consumers and retailers continue to grapple with inflation, Visa raised swipe fees on January 1. Gov. JB Pritzker, Senate President Don Harmon, House Speaker Emanuel “Chris” Welch and the General Assembly took a stand against swipe fee greed by passing the Interchange Fee Prohibition Act, which limits swipe fees from being charged on the sales tax and tip portion of transactions. This law will provide tangible relief to Illinois families and retailers of all sizes. While Visa and Mastercard fight to protect their unchecked duopoly in court, Illinois policymakers have sent a clear message that enough is enough.
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