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Seventh Circuit Remands IBA Interchange Litigation to District Court. The U.S. Court of Appeals for the Seventh Circuit has returned the IBA’s challenge of the Illinois Interchange Fee Prohibition Act (IFPA) to the district court. The Seventh Circuit’s order instructs the district court to address the OCC’s recent interim final actions that support the IBA’s legal positions on IFPA preemption and federally-chartered banks’ authority to charge and receive interchange fees. The order also cancels the oral arguments set for May 13, 2026. Read the order.
May 11, 2026
ABA Issues Guide for Banks Writing Comment Letters on OCC Interim Final Actions. The American Bankers Association has released a guide for banks to use when writing comment letters supporting the OCC’s recent interim final actions concluding that the Interchange Fee Prohibition Act is preempted by federal law and clarifying national banks’ power to charge interchange fees from credit and debit card operations, in support of the IBA’s interchange litigation. The guide includes a sample comment letter for banks to customize and practical suggestions. Comments to the interim final actions are due by May 29, 2026. Access the guide.
May 7, 2026
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