Date: October 4, 2024
Media Contact:
Nick Simpson
Nick@electronicpaymentscoalition.org
WASHINGTON – Electronic Payments Coalition Executive Chairman Richard Hunt issued the following statement after Senator Dick Durbin (D-Ill.) filed an amicus brief supporting a new, experimental law in Illinois changing how credit cards are processed:
“They might say this is about small businesses, but in reality Senator Durbin and his allies are on a fanatical crusade to help the largest corporate mega-stores – who also happen to be among their largest campaign donors. They have weaponizedthe federal government against American companies and now Senator Durbin is turning to the courts.
“It is clear this new Illinois law is illegal and, as the lead federal banking regulator said this week, also ‘ill-conceived, highly unusual and largely unworkable.’ For small businesses, the new law would impact the functionality of our nation-wide payments systems and, for consumers, increase fraud risks and lead to higher fees.”