In April 2026, the Office of the Comptroller of the Currency issued two coordinated interim actions addressing national banks’ authority to impose certain fees. The OCC adopted an interim final rule and final order clarifying that national banks have long possessed the power under federal law to assess non‑interest charges and fees whether those fees are set by the bank itself or in consultation with third parties. The OCC emphasized that this authority reflects longstanding banking powers recognized under the National Bank Act, rather than a new or expanded grant of authority.
The OCC concluded that federal law preempts the Illinois Interchange Fee Prohibition Act (IFPA). The IFPA becomes effective on July 1, 2026 and would restrict interchange fees on certain portions of payment card transactions and limit the use of transaction data. The OCC explained that applying a patchwork of state‑specific fee restrictions to national banks would interfere with the exercise of federally granted powers and undermine nationally uniform standards.
The two actions reaffirm that federal preemption in the fees space for national banks is a settled principle of federal banking law and signal the OCC’s willingness to act decisively where state laws threaten to encroach on those authorities.
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