Illinois Swipe Fee Law Sent to Lower Court for Preemption Review

A federal district court must reconsider its ruling that Illinois can ban national banks from charging “swipe” fees on retail taxes and tips in the state.

The US Court of Appeals for the Seventh Circuit was set to hear oral arguments May 13 in an appeal of a February decision from Judge Virginia M. Kendall of the US District Court for the Northern District of Illinois allowing most aspects of the law to take effect. But the appellate court Friday canceled the arguments, saying Kendall must weigh in on the law a second time in light of a determination last ...