Innovative Payments Association

Summary: The Innovative Payments Association (IPA), a trade organization representing the electronic payments sector, supports the OCC's proposals to clarify national banks' authority to charge non-interest fees and to preempt the Illinois Interchange Fee Prohibition Act. They argue that federal preemption is necessary to maintain a uniform national payment system, prevent operational complexities caused by a patchwork of state laws, and protect the stability of the banking system.