National Bank Non-Interest Charges and Fees

The Indiana Bankers Association, representing 115 financial institutions, supports the OCC's interim final rule and order regarding national bank non-interest charges and fees. They argue that the action preserves a stable, uniform national banking framework and prevents inconsistent state regulations from undermining the efficiency of the national payments system.

Amber Gellar-Smith, a small business owner, opposes the rule because she believes it allows banks to continue charging fees on sales tax revenue collected for the state. She argues that the rule undermines state laws intended to protect small businesses from non-competitive interchange fees set by major card networks.

EZ Stop Food Marts, a family-owned convenience retail business, opposes the interim final rule because it allows national banks to collect fees set by third parties like Visa and Mastercard, which the company argues facilitates anticompetitive fee-fixing. The commenter argues that these excessive swipe fees burden small businesses, increase costs for consumers, and that the OCC's actions undermine state-level efforts to provide fee relief.

The Washington Food Industry Association (WFIA), a trade association representing independent supermarkets and convenience stores, opposes the interim final rule and order. They argue that the rule allows national banks to collect fees centrally fixed by third parties like Visa and Mastercard, which they claim will lead to higher costs for merchants and consumers.

BluPeak Credit Union supports the interim final rule and urges the OCC to codify it to clarify national banks' power to charge fees, including interchange fees. The credit union argues that preemption is necessary to maintain a uniform national payment system and to avoid the "staggering" costs and operational complexities that state-level legislation like the IFPA would impose on smaller financial institutions.

Frontwave Credit Union expresses appreciation for and urges the OCC to codify the interim final rule regarding national banks' power to charge non-interest fees. They argue that federal preemption is necessary to maintain a uniform national payment system and to avoid the "staggering" costs and operational complexities imposed by state-level legislation like the Illinois Interchange Fee Prohibition Act.

W&H Cooperative Oil Company, an independent energy cooperative, opposes the interim final rule and order because they believe it allows banks to collect excessive swipe fees set by third parties like Visa and Mastercard. The company argues that the rule encourages anti-competitive fee-fixing and undermines state efforts to protect merchants from fees on sales taxes and tips.

The Petroleum & Convenience Marketers of Alabama (P&CMA), a state trade association, opposes the interim final rule and order. They argue that the rule allows national banks to collect fees centrally fixed by third parties like Visa and Mastercard, which they claim fosters anticompetitive fee-fixing and will lead to higher costs for merchants and consumers.

The New Jersey Energy Marketers Group, representing motor fuel retailers and small businesses, opposes the interim final rule because it allows national banks to collect fees set by third-party companies like Visa and Mastercard. They argue that this action facilitates anticompetitive fee-fixing, increases costs for small businesses and consumers, and undermines efforts to reduce excessive swipe fees.

I.H. Mississippi Valley Credit Union supports the interim final rule and urges the OCC to codify it to preserve a national card-based payment system. The commenter argues that state-level legislation like the IFPA would create unworkable operational costs and potential business-ending consequences for credit unions.