[The following is a paid advertisement.]

The Illinois Interchange Fee Prohibition Act promises savings for consumers, but the economics tell a different story. By restricting interchange fees, the policy shifts billions of dollars away from the payment system services consumers rely on - and into the hands of large retailers.

Interchange revenue supports fraud prevention, rewards programs, and broad access to affordable banking services. Cutting it doesn’t eliminate costs; it redistributes them. Consumers will likely face fewer benefits, reduced protections, and new or higher fees elsewhere.

Experience from similar policies shows retailers rarely pass savings on to shoppers. Instead, major national chains capture the gains, while working families see little to no price relief.

The proposal also risks creating a fragmented payment landscape, adding complexity at checkout, and weakening security standards. Those burdens ultimately fall on consumers.

This isn’t a consumer cost-cutting measure - it’s a value transfer. And under this plan, consumers lose while large retailers win.

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

Paid for by Illinois Credit Union League.