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Illinois Interchange Law Delayed (again) to July 2027

Posted by on June 1, 2026

As credit unions throughout the country prepared how to handle member card payments in Illinois with the Illinois Interchange Fee Prohibition Act (IFPA) set to go into effect one month from now, the Legislature passed yet another delay pushing out implementation to July 1, 2027. The action came in the early morning hours before the Legislature adjourned.

With the IFPA prohibiting interchange on sales tax and gratuities set to go into effect on July 1, 2026, and the 10th Circuit Court recently sending a lawsuit back to the district court in light of OCC rules aiming to pre-empt it for national banks, lawmakers again pushed it out another year. This comes across a backdrop of more questions than answers from the courts, payment networks, and regulators.

In the meantime, the court case and rules from the OCC and NCUA will continue forward but no longer will credit unions need to finalize operational or logistical approaches before July 1, 2026. The law, currently without an injunction, would have applied to a payment card transaction in the state of Illinois no matter where the issuing financial institution was located with violations carrying a steep $1,000 fine per transaction.

Posted in Advocacy on the Move, Arizona Advocacy, Colorado Advocacy, Federal Advocacy, Idaho Advocacy, Oregon Advocacy, Regulatory Advocacy, Washington Advocacy, Wyoming Advocacy.

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