Federal Register #2026-08341

OCC Interim Final Order on Illinois Interchange Fee Law Preemption

This notice announces an interim final order from the Office of the Comptroller of the Currency (OCC) regarding the preemption of a state law affecting payment card interchange fees. - Government Buyer: - Office of the Comptroller of the Currency (OCC), U.S. Department of the Treasury - Key Details: - The OCC has determined that federal law preempts the Illinois Interchange Fee Prohibition Act. - The Illinois law would have prohibited national banks and federal savings associations from charging or receiving interchange fees on the tax and gratuity portions of payment card transactions. - The law also sought to restrict the use of payment card transaction data. - The OCC's order clarifies that national banks and federal savings associations may continue to charge interchange fees and use transaction data as permitted under federal law. - OEMs and Vendors: - No specific OEMs or vendors are mentioned, but major card networks such as Visa and Mastercard are referenced as typical partners of national banks. - Products/Services Requested: - No procurement of goods or services is involved in this notice. - Unique or Notable Requirements: - The order invites public comments and is effective on a specified date. - The action is regulatory and does not involve acquisition or contracting for products or services.

Description

The Office of the Comptroller of the Currency (OCC) is issuing an interim final order concluding that Federal law preempts the Illinois Interchange Fee Prohibition Act. This Act seeks 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 order invites public comments and is effective June 30, 2026, with comments due by May 29, 2026.

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