9 Retail Associations Sue OCC and NCUA, Challenging Their Handling of Illinois’s Interchange Fee Act

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9 retail associations separately sued OCC and NCUA, questioning how the two federal agencies handled the Illinois Interchange Fee Prohibition Act and their authority to block application of the state law. The law would prohibit the collection of credit and debit card interchange fees on sales and tips in Illinois, with its effective date previously delayed until 2027. The existing injunction has been expanded to cover credit unions nationwide, while state-chartered banks and state-chartered credit unions remain subject to the law.