NGA Opposes OCC’s Interim Final Rule Allowing National Banks to Set Interchange Fees Through Third-Party Arrangements

NGA Opposes OCC Rule Allowing Banks To Set Swipe Fees Via Third Parties

The National Grocers Association (NGA) has submitted comments to the Office of the Comptroller of the Currency (OCC) opposing an interim final rule that would permit national banks to establish interchange (swipe) fees through third‑party arrangements rather than through bank‑to‑bank competition. The rule revises 12 C.F.R. § 7.4002 and relates to the Illinois Interchange Fee Prohibition Act. NGA argues that the change departs from longstanding f…

NGA Opposes OCC’s Interim Final Rule Allowing National Banks to Set Interchange Fees Through Third-Party Arrangements

NGA Submits Comments Stating Rule Undermines Competition and Raises Costs for Independent Grocers and Consumers  Washington, D.C. – The National Grocers Association (NGA), the trade association representing the independent supermarket industry, today submitted comments to the Office of the Comptroller of the Currency (OCC) opposing its interim final rule revising 12 C.F.R. § 7.4002 and the related interim final order concerning the application o…