[The following is a paid advertisement.]

Supporters of Illinois’ swipe-fee proposal claim it will lower costs for consumers. But there’s no requirement that retailers pass along any savings - and history suggests they won’t.

Instead, the law would strip away funding that supports key consumer benefits like fraud protection, card rewards, and low-cost banking access. Those costs don’t disappear - they shift back to consumers in the form of fewer benefits and higher fees.

The biggest beneficiaries are likely to be large retailers, not Illinois households. Evidence from similar efforts shows savings tend to increase retailer margins rather than reduce prices at the register.

The bill could also introduce unnecessary complexity into the payments system, creating inefficiencies, reducing security, and making transactions less seamless. Consumers ultimately bear those costs through inconvenience, risk, and reduced choice.

At its core, this policy isn’t about affordability, it’s about reallocating resources. And that reallocation puts consumers at a disadvantage while boosting large retailers’ bottom lines.

For more information, visit https://www.icul.com/advocacy/ifpa/.

Paid for by Illinois Credit Union League.