Order Preempting the Illinois Interchange Fee Prohibition Act

The Conference of State Bank Supervisors (CSBS) opposes the OCC's interim final order because it relies on a flawed and "concocted" preemption standard that is inconsistent with Supreme Court precedent. They argue that the current analysis fails to properly assess whether the Illinois Interchange Fee Prohibition Act (IFPA) significantly interferes with national bank powers, which could lead to protracted litigation and uncertainty for both national and state-chartered banks.

First Mid Bank & Trust, a national bank, supports the OCC's Interim Final Rule and Order which protects national banks' authority to receive interchange fees. The bank argues that the rule provides necessary regulatory certainty and prevents inconsistent state laws from fragmenting the national payments system and creating operational inefficiencies.

The Kansas Bankers Association expresses strong support for the OCC's Interim Final Rule and Interim Final Order regarding national bank non-interest charges and fees. They argue that federal preemption is necessary to maintain operational consistency, reduce regulatory fragmentation, and ensure a uniform framework for nationwide payment systems.

The commenter is a small business owner who supports the OCC's interim final order. They argue that a uniform national payment system is preferable to a patchwork of state-by-state regulations, which could create inconsistency and complexity for small businesses.