American Bankers Association, Illinois Bankers Association, America’s Credit Unions, and Illinois Credit Union League

Summary: The American Bankers Association, Illinois Bankers Association, America’s Credit Unions, and the Illinois Credit Union League jointly support the OCC's order preempting the Illinois Interchange Fee Prohibition Act. They argue that the Act's provisions on interchange fees and data use interfere with federal banking powers and would impose massive, infeasible compliance costs on the national banking system.