Preemption of Illinois Interchange Fee Prohibition Act: Interim Final Order | OCC

https://occ.gov/news-issuances/bulletins/2026/bulletin-2026-17.html
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2026-04-27 15:19:28 · pdonofrio@vixio.com
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The OCC is issuing an interim final order concluding that federal law preempts the Illinois Interchange Fee Prohibition Act. National banks and federal savings associations are neither subject to nor required to comply with this state law. Comments on all aspects of the interim final order are due 30 days after it is published in the Federal Register.

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TITLE: Office of the Comptroller of the Currency Issues Interim Final Order Preempting Illinois Interchange Fee Prohibition Act BODY: On April 24, 2026, the Office of the Comptroller of the Currency (OCC) issued an interim final order concluding that federal law preempts the Illinois Interchange Fee Prohibition Act. The order applies to all national banks, federal savings associations, federal branches, and agencies of foreign banking organizations operating under OCC supervision, including community banks with up to $30 billion in assets. The Illinois Interchange Fee Prohibition Act purports to prohibit national banks and federal savings associations from charging or receiving interchange fees on the tax and gratuity portions of payment card transactions and restricts the use of payment card transaction data. The OCC's interim final order determines that these state-law restrictions are preempted by federal law, meaning national banks and federal savings associations are neither subject to nor required to comply with the Illinois state law. The interim final order complements a concurrent interim final rule clarifying national banks' power to charge non-interest charges and fees, which the OCC is issuing simultaneously. The order addresses the scope of federal preemption over state-imposed restrictions on interchange fee practices for federally chartered banking institutions. The comment period for the interim final order is 30 days following publication in the Federal Register. Interested parties may submit comments during this period. For further information, parties may contact Karen McSweeney, Special Counsel; Priscilla Benner, Counsel; or Elizabeth Small, Counsel, at the OCC's Chief Counsel's Office at (202) 649-5490.
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  • ✓ By:pdonofrio@vixio.com (38)