Bank and Credit Union Groups Statement on Illinois General Assembly Vote to Delay Illinois Interchange Fee Prohibition Act Implementation

The American Bankers Association, Illinois Bankers Association, America’s Credit Unions and the Illinois Credit Union League issued the following statement after the Illinois General Assembly voted to delay implementation of the Illinois Interchange Fee Prohibition Act (IFPA) for one year:

"We welcome the Illinois General Assembly's decision to once again delay the IFPA implementation deadline for another year. This reasonable step will protect Illinois businesses and consumers from facing payment chaos in just a month, without interrupting our ongoing legal challenge to IFPA. We remain confident in the strength of our case and look forward to securing permanent relief from this misguided law."

About the American Bankers Association
The American Bankers Association is the voice of the nation’s $26.1 trillion banking industry, which is composed of small, regional and large banks that together employ over 2 million people, safeguard $20.5 trillion in deposits and extend $13.7 trillion in loans.

About the Illinois Bankers Association
The Illinois Bankers Association, the voice of Illinois' banking industry, is a full-service trade association dedicated to creating a positive business climate that benefits the entire banking industry and the communities they serve. Founded in 1891, the IBA brings together state and national banks and savings banks employing over 105,000 people in nearly 4,500 offices.

About America's Credit Unions
America’s Credit Unions is the unified voice for not-for-profit credit unions, representing more than 96% of the industry's assets and their more than 146 million members nationwide. America’s Credit Unions provides strong advocacy, resources and services to advance, empower, and protect credit unions and the people and communities they serve. For more information about America’s Credit Unions, visit AmericasCreditUnions.org.

About the Illinois Credit Union League
The Illinois Credit Union League is the primary trade association for more than 200 state and federal credit unions in Illinois. It focuses on providing legislative and regulatory advocacy, compliance assistance and information, and a wide range of educational and training services to those credit unions, who serve about 4.1 million members. More information can be found atwww.icul.com.