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Current as of January 01, 2025 | Updated by Findlaw Staff
§ 150-15. Penalties.
(a) An issuer, a payment card network, an acquirer bank, a processor, or other designated entity that has received the tax or gratuity amount data and violates Section 150-10 is subject to a civil penalty of $1,000 per electronic payment transaction, and the issuer must refund the merchant the interchange fee calculated on the tax or gratuity amount relative to the electronic payment transaction.
(b) An entity, other than the merchant, involved in facilitating or processing an electronic payment transaction, including, but not limited to, an issuer, a payment card network, an acquirer bank, a processor, or other designated entity, may not distribute, exchange, transfer, disseminate, or use the electronic payment transaction data except to facilitate or process the electronic payment transaction or as required by law. A violation of this subsection constitutes a violation of the Consumer Fraud and Deceptive Business Practices Act.
Cite this article: FindLaw.com - Illinois Statutes Chapter 815. Business Transactions § 151/150-15. Penalties - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-815-business-transactions/il-st-sect-815-151-150-15/
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