Aimed at providing relief to retailers, the Interchange Fee Prohibition Act, bans credit card companies and banks from charging swipe fees on sales tax and tip portions of charges.
The measure was set to take effect on July 1st, but Illinois lawmakers in Springfield decided to delay the bill in the final hours of the legislative spring session until July of next year.
That decision came before Chief Judge Virginia M. Kendall in the Northern District of Illinois issued a permanent injunction, another setback for the law.
In April the federal government moved to block the bill. Critics of the legislation say the act could be costly for financial institutions, passing the burden to consumers and businesses.
