Thomas V. Panoff

Oct 11, 2024 | natlawreview.com | Thomas V. Panoff

The banking industry’s efforts to challenge a new Illinois law banning interchange fees, also known as “swipe fees,” on tax and tip payments gained significant momentum when the OCC criticized the law as an “ill-conceived” threat to the “efficient and effective” operation of the banking system in an amicus brief filed in Illinois federal court on October 2.

Aug 12, 2024 | jdsupra.com | Matt Benz |Thomas V. Panoff

On August 5, a prominent investment brokerage firm disclosed in a quarterly filing that it has been responding to requests from the SEC since April related to the firm’s practice of sweeping uninvested customer account balances into interest-bearing deposit programs at affiliate banks in order to generate income.

Aug 12, 2024 | mondaq.com | Matt Benz |Thomas V. Panoff

Listen to this post On August 5, a prominent investment brokerage firm disclosed in a quarterly filing that it has been responding to requests from the SEC since April related to the firm's practice of sweeping uninvested customer account balances into interest-bearing deposit programs at affiliate banks in order to generate income.

Aug 9, 2024 | natlawreview.com | Thomas V. Panoff

On August 5, a prominent investment brokerage firm disclosed in a quarterly filing that it has been responding to requests from the SEC since April related to the firm’s practice of sweeping uninvested customer account balances into interest-bearing deposit programs at affiliate banks in order to generate income.

Jun 21, 2024 | natlawreview.com | Thomas V. Panoff

Illinois has become the first state to enact restrictions on credit and debit card interchange fees – commonly known as swipe fees – linked to taxes and gratuities. The Interchange Fee Prohibition Act (the “Act”), embedded as Section 150-10 of the state’s latest revenue bill, signed on June 7 by Governor J.B. Pritzker, aims to accommodate retailers who have long contested the fairness of these fees.