A ruling this week from a federal judge in Chicago exempting national banks and payment card networks from an Illinois law barring “swipe fees” on retail taxes and tips is already putting similar measures around the country on ice.
Colorado Gov. Jared Polis (D) on June 3 vetoed a similar bill that reached his desk, citing the decision from Judge Virginia M. Kendall of the US District Court for the Northern District of Illinois and the likelihood of successful litigation from banks and credit unions against his state’s legislation.
Around 20 states are considering some form of swipe fee restrictions, ...
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