National Banks Cleared to Charge Non-Interest Fees Freely
Published Date: 4/29/2026
Rule
Summary
Starting June 30, 2026, national banks can clearly charge all kinds of non-interest fees, like those from credit and debit card transactions—even if set with help from others. This rule makes it official that banks have the power to collect these fees, and the public can share their thoughts until May 29, 2026. If you use or work with banks, this could affect the fees you see on your statements!
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Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Preempts Illinois Interchange Ban
The OCC issued this interim final rule to make clear that Federal law preempts the Illinois Interchange Fee Prohibition Act (IFPA) as applied to national banks before the IFPA goes into effect on July 1, 2026. The IFPA would have banned interchange on tax or gratuity amounts and imposed a $1,000 civil penalty per transaction; the OCC says that, without action, participants could face up to about $6.5 trillion in liability per year and that banks might decline transactions or stop issuing cards.
Banks Can Charge Card Fees
Starting June 30, 2026, the OCC says national banks may assess, collect, impose, levy, receive, reserve, take, or otherwise obtain non-interest charges and fees, and it explicitly lists interchange fees from credit and debit card operations. The rule also says banks may obtain those fees even when the fee amounts are set by or in consultation with third parties.
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