Illinois businesses hoping for relief from credit card fees saw that effort stalled by a new federal ruling.

Why it matters: Consumers often end up absorbing those record-high credit card fees, either through charges for using a credit card at a store or restaurant or through higher prices.

• This federal move halts Illinois' first-in-the-nation law to reduce those bank fees, meaning consumers will continue to absorb the charges.

Driving the news: The U.S. Office of the Comptroller of the Currency declared Friday that federal law trumps Illinois law regarding certain fees that banks can charge.

Catch up quick: Illinois lawmakers passed the Interchange Fee Prohibition Act in 2024 to limit fees banks can collect on the tax and tip portion of card transactions.

• For the past two years, bank groups have fought the law, which was set to take effect July 1.
• A coalition of bank and credit union associations recently ran local TV ads suggesting the law could prevent consumers from using cards to pay taxes and tips and warning of "credit card chaos."

The other side: Ann Petros, a vice president at America's Credit Unions, tells Axios her organization is pleased with the federal order. She says potential lost revenue from the law, estimated in the tens of millions, could reduce funds for important credit card programs.

• Axios requested comment from the OCC and the Illinois Bankers Association, but got no immediate response.

Between the lines: Banks stand to lose millions in fees under the IFPA, and more if other states considering similar bills follow suit.

State of play: As Illinois officials absorb the news, the Illinois Retail Merchants Association is reviewing options.

What's next: A panel of circuit court judges in Chicago is scheduled to hear arguments on the issue at a hearing on May 13.

• The court is expected to consider the OCC order in its ruling.

Keep reading

A major stadium bill is heading to the Illinois Senate — but the Bears are pushing back over a proposed tax on surrounding development.

Why it matters: The disagreement adds new friction to a deal seen as key to keeping the team in Illinois.

The big picture: The Illinois House passed the 377-page "megaprojects" bill last week, which was 10 times the size of the bill the House negotiated over in February.

• The measure goes beyond the Bears, bundling in economic development incentives — including property tax relief — for municipalities statewide.

Friction point: Gov. JB Pritzker said Saturday the team has concerns about the House-passed bill, signaling changes may be needed to win their support.

• At issue: a proposed 9% amusement tax on entertainment districts. While it wouldn't apply to the stadium, it would hit surrounding restaurants, bars and venues planned for Arlington Heights.

Reality check: Opposition isn't limited to the team.

What they're saying: The Illinois Revenue Alliance, made up of unions, advocacy groups, and community organizations, urged lawmakers to find "the political will to tax billionaires and wealthy corporations" rather than granting potential tax breaks.

What's next: The Bears are set to meet with the NFL stadium committee this week to provide an update on the stadium search, adding pressure to Springfield to act.

The bottom line: Lawmakers are racing the clock to pass a bill that satisfies the Bears and a long list of competing interests.

Go deeper

🚨 Prosecutors say Alphanso Talley brought a gun to Swedish Hospital on Saturday, pulled it from under a blanket, and shot two police officers, killing Officer John Bartholomew.

• Talley, who already had three outstanding warrants for his arrest, has been charged with first-degree murder, attempted first-degree murder and aggravated kidnapping. (Sun-Times)

💨 Heavy winds uprooted trees and toppled buildings from Rogers Park to West Pullman last night. (ABC 7)

🧑‍⚖️ A federal appeals court upheld former Illinois House Speaker Michael Madigan's corruption conviction. The court ruled that prosecutors presented clear evidence he traded political support in exchange for jobs for his allies. (CBS 2)

🏛️ Mayor Brandon Johnson has nominated Exelon executive and veteran federal prosecutor David Glockner to be the city's next inspector general. The appointment is subject to City Council approval. (CBS)

Illinois' midterm primary election drew voter attention, but Chicago-area radio listeners mostly tuned out.

The latest: March radio ratings show news and talk stations — which leaned heavily into election coverage — lost listeners.

Zoom in: WXRT now reigns as our top station, posting the biggest gain from February to March.

• WGN-AM and WBEZ lost ground, despite showing growth at the beginning of 2026.
• The Score — now simulcasting on 670-AM and 104.3-FM — also jumped with the new baseball season, but remains just outside the top 10.

Yes, but: WBBM, which dropped from the top spot in February, still outperforms other news/talk stations with its all-news format,

State of play: More broadly, podcast listening has now eclipsed radio, according to a new study.

What they're saying: "It is natural evolution that podcasts would eclipse broadcast," former WGN-AM program director Todd Manley tells Axios. Manley now produces various podcasts.

• "Audio is still the most intimate social media, especially when voices are driving it," he adds. "On-demand producers are serving up fresh voices and incubating new talent."

Caveat: These ratings don't show when people are tuning in or detailed listener demographics.

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