Ben Sperry and Julian Morris on Illinois Interchange Fee Law and Consumer Costs
CardRates.com
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ICLE Senior Scholars Ben Sperry and Julian Morris were mentioned in a CardRates.com article on the Illinois Interchange Fee Prohibition Act and its potential effects on credit card markets, including higher consumer costs and reduced card benefits. Read the full article here.
If the act causes credit card issuers to lose a significant amount of revenue, cardholders may be the ones to suffer the most. The Illinois Interchange Fee Prohibition Act could bring tens of millions of dollars in losses every year to large issuers, according to the International Center for Law & Economics.