Court Shields Federal Credit Unions From Illinois Swipe Fee Law

District Court ruled Tuesday (Sept. 22) that federal credit unions cannot be forced to comply with the Illinois Interchange Fee Prohibition Act (IFPA), according to a Tuesday press release issued by the co-plaintiffs in a lawsuit challenging the law. The order extended to federal credit unions a permanent injunction that the court previously applied to all federally chartered financial institutions and the payment networks, according to the release.