Author: Rock Fusco Connelly LLC
Illinois Banking and Credit Industry Moves to Quash Law Prohibiting Card Swipe Fees
Banking and credit trade groups asked a Chicago federal judge late Monday to permanently overturn a law which would prohibit banks from collecting “swipe fees” on tax and tip portions of credit and debit card payment transactions. The Interchange Fee Prohibition Act, which was approved as part of Governor J.B. Pritzker’s 2024 budget legislation, stemmed from heavy
Blackstone faces $346 million foreclosure on River North office building
Following a movement of buildings being seized by its lenders, a River North office building is on course to join the list. The office building, located at 350 N. Orleans St., is controlled by Blackstone, a New York based private equity firm. Blackstone bought the property for $378 million in 2015 and subsequently spent another
Jose Maria Olazabal to join the firm as a Transactional Associate Attorney
We are excited to announce that Jose Maria Olazabal will be joining us as an Associate Attorney in our Transactional Practice Group following his graduation from Loyola University Chicago School of Law and successful completion of the July Bar Exam. Jose has been an integral part of our team since 2023, serving as a Law
New Laws Impacting Employers in 2025
January 1, 2025, is not only the start of the New Year, but it is also the effective date for many new laws impacting employers in Illinois. There are a variety of new laws and amendments to existing laws that employers must make note of, such as: Pay Transparency Law. In 2023, Governor JB Pritzker
Illinois Raises Minimum Wage
While the federal minimum wage has consistently stayed at $7.25 per hour since 2009, many states have decided to increase their minimum wage at the commencement of the new year. In 2025, the highest minimum wage is set to be $17.50 in the District of Columbia, with Washington state and California following closely at $16
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Umbrella Insurer Obligations under BIPA: Thermoflex Waukegan LLC v. Mitsui Sumitomo Insurance USA Inc.
Umbrella insurance policies provide excess liability above the limits of one’s typical insurance policy. Umbrella insurers cover any incidents that are not specifically excluded, such as some professional or business activities or any liabilities you agree to assume. On May 17, 2024, in Thermoflex Waukegan LLC v. Mitsui Sumitomo Insurance USA Inc., the 7th Circuit
Illinois Counties Selling Houses for Unpaid Taxes and Not Reimbursing Owners for Equity Triggers Class Action Lawsuit
Tax foreclosures are indeed legal. However, on May 25, 2023, the Supreme Court held in Tyler v. Hennepin, 598 U.S. 631 (2023), that when a local government takes a home at a property tax foreclosure and keeps the homeowner’s equity after the tax debt is paid, it violates the Takings Clause of the Fifth Amendment