Merchant Advisory Group, Retail Industry Leaders Association, and the National Restaurant Association
Merchant Advisory GroupOpposeTrade association
Summary: The Merchant Advisory Group, the Retail Industry Leaders Association, and the National Restaurant Association jointly oppose the OCC's Interim Order, arguing that the Illinois Interchange Fee Prohibition Act (IFPA) does not significantly interfere with national bank powers. They contend that the IFPA is a sensible consumer-protection measure that targets fees set by card networks rather than banks, and they argue the OCC's preemption analysis is based on speculation rather than substantial evidence.
The Merchant Advisory Group (“MAG”), the Retail Industry Leaders Association (“RILA”), and the National Restaurant Association (“NRA”) jointly submit this comment in opposition to the Office of the Comptroller of the Currency’s (“OCC”) proposed Interim Order Preempting the Illinois Interchange Fee Prohibition Act (“IFPA”) (collectively, the “Interim Order”). Please see our attached comment letter.