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

https://www2.occ.gov/news-issuances/bulletins/2026/bulletin-2026-17.html
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2026-05-04 13:41:48 · 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 determines that national banks, federal savings associations, and federal branches and agencies of foreign banking organizations are neither subject to nor required to comply with the state law. 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 addresses these restrictions by asserting federal preemption over the state legislation. The interim final order complements a concurrent interim final rule the OCC is issuing that clarifies national banks' power to charge non-interest charges and fees. The order applies to all community banks, defined as institutions with up to $30 billion in assets, as well as larger national banks and federal savings associations. The OCC is accepting comments on all aspects of the interim final order for 30 days after publication in the Federal Register. Interested parties, including chief executive officers of national banks and federal savings associations, should submit responses within this timeframe. Further information regarding the order can be obtained by contacting the OCC's Chief Counsel's Office at (202) 649-5490. REFERENCES: OCC Bulletin 2026-17 (April 24, 2026): https://www.occ.gov/news-issuances/bulletins/2026/bulletin-2026-17.html
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