OCCGeneralApril 29, 2026

OCC Preempts Illinois Law Banning Interchange Fees on Tax and Tip Portions

The OCC has issued an interim final order concluding that the Illinois Interchange Fee Prohibition Act — which would bar national banks and federal savings associations from charging interchange fees on the tax and gratuity portions of card transactions and restrict use of transaction data — is preempted by federal law. Payment processors and fintechs that issue cards or process transactions for national banks should note that the Illinois restriction will not apply to federally chartered institutions, though state-chartered entities and non-bank payment companies may still need to assess their own exposure.

What to do

Review whether your card program or payment processing agreements involve national banks or federal savings associations, and assess whether any Illinois Interchange Fee Prohibition Act compliance measures already underway can be paused pending the outcome of the comment period on this interim final order.

Who this affects

Bank / Credit UnionPayments CompanyFintech / Neobank

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Source

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This radar entry is educational and does not constitute legal advice. Summaries are AI-assisted and grounded in the linked official source; always verify against the primary source and consult qualified legal counsel for jurisdiction-specific guidance.

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