The most aggressive attempt came courtesy of Illinois, which passed a law in 2024 forbidding interchange fees on the sales tax portion of a transaction. The typical interchange fee at the time was double what the new statute allowed companies to charge. Setting aside the issue of whether the state law unconstitutionally preempts federal law, the statute is tough to defend on its merits. As complicated as the Illinois law is, other states tried to go even further. The Illinois interchange debacle should stand as a lesson that policymakers can best serve their constituents by focusing their energies on real solutions, not going after boogeymen.