Retailers sue federal regulators in latest drama over Illinois’ credit card swipe fee law

Retail groups sued two federal regulators on Thursday, hoping to revive Illinois’ embattled efforts to ban certain credit card interchange fees , also known as “swipe fees.” The suits mark the latest turn in a yearslong legal fight between retailers, which want to cut swipe fees, and financial institutions, which have challenged those efforts. kAm%96 EH@ =2HDF:ED H6C6 7:=65 :? &]$] s:DEC:4E r@FCE 7@C E96 s:DEC:4E @7 r@=F>3:2] %96J 492==6?86 CF=6D :DDF65 3J E96 ~77:46 @7 E96 r@>AEC@==6C @7 E96 rFCC6?4J 2?5 E96 }2E:@?2= rC65:E &?:@? p5>:?:DEC2E:@?] %9@D6 CF=6D =65 2 7656C2= ;F586 :? x==:?@:D E@ A6C>2?6?E=J 3=@4< E96 DE2E6 =2H :? yF?6]k^Am kAmq2?A2?:6D 492C86 C6E2:=6CD 2 766 6249 E:>6 2 4FDE@>6C A2JD H:E9 2 42C5] %96 766 :D 42=4F=2E65 @? E96 E@E2= EC2?D24E:@?[ :?4=F5:?8 D2=6D E2I6D 2?5 E:AD] %96 a_ac =2H[ A2DD65 3J E96 v6?6C2= pDD6>3=J 2?5 D:8?65 3J v@G] yq !C:EK<6C[ H@F=5 32C E9@D6 766D @? E96 E2I @C E:A A@CE:@?D @7 2 4FDE@>6C’D AFC492D6] xE H2D :?E6?565 E@ 8:G6 C6E2:=6CD 7:?2?4:2= C6=:67]k^Am kAm$6G6C2= ?2E:@?2= 2?5 DE2E6 8C@FAD 2C6 2>@?8 E96 A=2:?E:77D] %96J :?4=F56 E96 x==:?@:D #6E2:= |6C492?ED pDD@4:2E:@?[ H9:49 92D =65 AF3=:4 25G@424J 7@C E96 =2H[ 2=@?8 H:E9 E96 }2E:@?2= #6E2:= u656C2E:@? 2?5 E96 x==:?@:D #6DE2FC2?E pDD@4:2E:@?]k^Am kAm}6:E96C E96 ~rr ?@C }r&p[ ?@C x==:?@:D pEE@C?6J v6?6C2= zH2>6 #2@F=’D @77:46[ :>>65:2E6=J C6DA@?565 E@ 2 C6BF6DE 7@C 4@>>6?E %9FCD52J]k^Am kAmpD =:E:82E:@? 4@?E:?F6D[ “DH:A6 766D 4@?E:?F6 E@ 4@DE C6E2:=6CD 2?5 E96C67@C6 4@?DF>6CD[” x==:?@:D #6E2:= |6C492?ED pDD@4:2E:@? !C6D:56?E 2?5 rt~ #@3 z2CC D2:5 :? 2 A9@?6 :?E6CG:6H %9FCD52J] “xE F?56C>:?6D C6E2:=6CD’ 23:=:EJ E@ <66A AC:46D 7@C 4@?DF>6CD 5@H?]”k^Am kAmu:?2?4:2= :?DE:EFE:@?D 92G6 7@F89E E96 =2H 7@C >@C6 E92? EH@ J62CD[ 2 4@?7=:4E E92E 92D A=2J65 @FE :? E96 DE2E69@FD6[ :? 7656C2= 4@FCED[ @? E96 2:CH2G6D 2?5 :? (2D9:?8E@? D:?46 =2H>2<6CD 2?5 !C:EK<6C 6?24E65 E96 32?]k^Am kAmx? u63CF2CJ[ r9:67 yF586 ':C8:?:2 |] z6?52== @7 E96 &]$] s:DEC:4E r@FCE 7@C E96 }@CE96C? s:DEC:4E @7 x==:?@:D CF=65 E92E <6J AC@G:D:@?D @7 E96 =2H 4@F=5 8@ :?E@ 67764E[ 2 564:D:@? 324<65 3J C6E2:=6CD] q2?@G65 E@ 3=@4< E96 =2H[ 2 564:D:@? E92E 72G@C65 7:?2?4:2= :?DE:EFE:@?D] z6?52== :DDF65 2 A6C>2?6?E :?;F?4E:@? :? 62C=J yF?6 E92E DE@AA65 6?7@C46>6?E @7 E96 =2H 7@C >@DE EJA6D @7 7:?2?4:2= :?DE:EFE:@?D E92E H@F=5 @E96CH:D6 92G6 366? 27764E65] pE 2=>@DE E96 6I24E D2>6 E:>6[ E96 v6?6C2= pDD6>3=J G@E65 E@ 56=2J :>A=6>6?E2E:@? @7 E96 24E F?E:= yF=J a_af]k^Am kAmq@E9 D:56D 92G6 D:?46 2AA62=65 :? E96 fE9 &]$] r:C4F:E r@FCE @7 pAA62=D[ H:E9 2C8F>6?ED 6IA64E65 3J E96 6?5 @7 u63CF2CJ[ 244@C5:?8 E@ 2? @C56C =2DE >@?E9]k^Am kAmu:?2?4:2= :?DE:EFE:@?D 92G6 =@?8 D2:5 6=:>:?2E:?8 DH:A6 766D 4@F=5 42FD6 “492@D” 7@C 4@?DF>6CD 3J 492?8:?8 2 >2;@C A2CE @7 E96 EC2?D24E:@? AC@46DD] #6E2:=6CD D2J E96 4C65:E 42C5 =2H H:== =@H6C 4@DED 7@C 3FD:?6DD6D 2?5 4@?DF>6CD[ 2?5 E92E 2C8F>6?ED E92E E96 492?86 H:== 42FD6 :?4@?G6?:6?46 2C6 @G6C3=@H?]k^Am kAmvC@FAD C6AC6D6?E:?8 32? 7656C2= C68F=2E@CD’ 24E:@?D]k^Am kAm“(6 2AAC64:2E6 E96 H:==:?8?6DD @7 E96D6 W7656C2=X 286?4:6D E@ AC@E64E 4@?DF>6CD 2?5 3FD:?6DD6D 2?5 5676?5 E96 ?2E:@?2= A2J>6?E DJDE6> E92E 96=AD 5C:G6 E96 &]$] 64@?@>J 7@CH2C5[” E96 8C@FAD D2:5 :? 2 DE2E6>6?E]k^Am