The Office of the Comptroller of the Currency (OCC) announced an interim final rule and an interim final order addressing activities of national banks and Federal savings associations, clarifying their longstanding federal-law authority to charge certain fees regardless of whether the fees are set by the bank or by a third party. The interim final order confirms that federal law preempts the Illinois Interchange Fee Prohibition Act (IFPA), so OCC-regulated banks are not subject to or required to comply with that state law. The OCC framed the actions as a response to questions raised by the IFPA, which becomes effective on July 1, 2026, and which the OCC said would impose a complex, potentially unworkable, and destabilizing standard for national banks, Federal savings associations, and payment card systems, with risks amplified if other states adopt similar or conflicting approaches. The OCC also stated that the actions do not affect, and are not in conflict with, other federal laws that do or may apply to banks’ payment card activities. Comments on both the interim final rule and the interim final order are due 30 days after publication in the Federal Register.
Office of the Comptroller of the Currency 2026-04-24
Office of the Comptroller of the Currency issues interim final rule clarifying bank fee authority and order preempting the Illinois Interchange Fee Prohibition Act
The Office of the Comptroller of the Currency issued an interim final rule and order clarifying that national banks and Federal savings associations may charge certain fees under federal law, whether set by the bank or a third party. The order confirms that federal law preempts the Illinois Interchange Fee Prohibition Act, which the OCC said would otherwise create a complex and potentially destabilizing standard for OCC‑regulated banks and payment card systems, particularly if replicated by other states.