Venable partners Len Gordon, Liz Rinehart, and Max Bonici, along with new associate Kyle Keraga, led a team that represented the Electronic Transactions Association (ETA) in filing an amicus brief in federal court, supporting a challenge to an Illinois law prohibiting credit card issuers from charging interchange fees on the tax and tip portions of charges.
The brief supports a motion for a preliminary injunction via a federal lawsuit in the U.S. District Court for the Northern District of Illinois, brought by the Illinois Bankers Association, Illinois Credit Union League, American Bankers Association, and America’s Credit Unions challenging the Illinois Interchange Fee Prohibition Act (IFPA).
ETA maintains that allowing the IFPA to take effect while the federal lawsuit is pending will have grave economic consequences and cause irreparable harm to thousands of organizations worldwide that participate in the global payment system.