Ben Sperry Quoted in Politico on the Administration’s Challenge to Illinois Credit Card Law
Politico quoted Ben Sperry, ICLE Senior Scholar for Innovation Policy, in a piece on the current administration’s legal challenge to Illinois’ Interchange Fee Prohibition Act, which restricts how credit card interchange fees are applied to sales-tax portions of transactions.
Sperry noted the administration’s preference for a unified national payments framework over a state-by-state regulatory approach, while observing some tension between that position and the administration’s separate messaging on credit card interest rates and taxation.
Read the full piece here.
“The administration is fairly clear that it wants one national payments system, and not 50 states regulating how things are done differently,” said Ben Sperry, senior scholar at the International Center for Law and Economics, a think tank. “But it is inconsistent to some degree with Trump’s messaging on regulating credit card interest rates and some of his other messaging on taxation.”