CCBN and state groups support OCC preemption of Illinois interchange law
Date postedMay 28, 2026
CCBN, ICBA, and banking associations nationwide jointly endorsed an OCC order that would preempt the Illinois Interchange Fee Prohibition Act (IFPA). The letter stated that the OCC correctly determined that federal law overrides the IFPA for national banks, that the order is firmly rooted in the National Bank Act and reflects the realities of modern payment systems, and that allowing the IFPA to take effect would threaten the efficiency, safety, and uniformity of the card payment system. The letter urges OCC to finalize the order quickly to ensure long‑term regulatory certainty. ICBA has also released an Interchange Guide to help community bankers explain interchange and swipe fees to customers.