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Assistant attorney general warns Senate committee of legal risks if state restricts credit-card fees or requires cash acceptance
Summary
The Senate Committee on Finance heard from Assistant Attorney General Meredith Chaudois that Vermont could face federal preemption and dormant commerce clause challenges if it enacts S.135, a proposal restricting interchange fees and requiring acceptance of cash. She urged caution while litigation in Illinois proceeds.
The Vermont Senate Committee on Finance on April 17 heard legal warnings about S.135, a bill that would restrict interchange (credit-card) fees and would bar merchants from refusing cash. Meredith Chaudois, an assistant attorney general in the Consumer Protection Unit, told the committee litigation in Illinois suggests federal preemption risks and other constitutional challenges could follow if Vermont enacts similar rules.
Chaudois summarized recent procedural rulings in Illinois litigation over a comparable state law. She told the committee that a federal judge in the Northern District of Illinois issued preliminary injunctions affecting…
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