OCC Joins Interchange Fee Battle

The Office of the Comptroller of the Currency (OCC) is escalating its involvement in the regulation of interchange fees. By filing an amicus brief in a Seventh Circuit appeal, the OCC is extending federal oversight into a dispute that originated in Illinois. This move signifies a significant shift, bringing federal regulatory power to bear on an issue that has primarily been debated at the state level. The OCC's intervention suggests a broader federal interest in shaping the future of interchange fee governance across the United States, potentially impacting financial institutions and merchants alike.