meta_id 3099864

On April 24, 2026, the Office of the Comptroller of the Currency (OCC) announced an interim final rule and interim final order addressing the powers of national banks and Federal savings associations under Federal law, specifically in relation to fee-charging activities and state-level regulatory conflicts. The interim final rule clarifies longstanding Federal powers enabling national banks to charge certain fees, whether those fees are set by the bank or a third party. This action addresses recent questions regarding the compatibility of these powers with the Illinois Interchange Fee Prohibition Act (IFPA), which becomes effective on July 1, 2026. The OCC determined that the IFPA would create a complex, potentially unworkable, and destabilizing standard for national banks, Federal savings associations, and the nation's payment card systems. The OCC noted that similar unworkable or conflicting standards imposed by other states could exacerbate these effects. The interim final order confirms that Federal law preempts the IFPA, expressly providing that national banks and Federal savings associations are neither subject to nor required to comply with this state law. The OCC emphasised that these actions do not affect or conflict with the applicability of other Federal laws governing banks' payment card activities. By appropriately applying preemption to the IFPA, the OCC affirmed the Federal government's ability to set consistent standards governing payment card activities of national banks and Federal savings associations, including interchange fees. The comment period for both the interim final rule and interim final order closes 30 days after publication in the Federal Register. REFERENCES: Office of the Comptroller of the Currency. (2026, April 24). OCC Issues Two Interim Final Actions Clarifying Bank Powers under Federal Law and the Preemption of a Related State Law. Retrieved from OCC Newsroom.