Court rules federal law preempts Illinois interchange law
A federal court ruled that an Illinois law restricting the collection of interchange fees is preempted by federal law for...
Payments
ABA, associations reaffirm support for federal preemption of Illinois interchange law
ABA joined other national associations and state bankers associations in submitting a trio of letters expressing their support for recent...
ABA suggests safeguards for proposed FedNow expansion
ABA said it supports a proposal to allow banks and credit unions to use intermediaries to send transfers through the...
ABA, plaintiffs ask court to quickly issue Illinois interchange fee decision on remand
ABA and other plaintiffs are asking a federal court to issue a decision by next week in a lawsuit seeking...
OCC: Court should reverse Illinois interchange fee decision
The OCC is urging a federal court to reverse its decision upholding Illinois restrictions on interchange fees in light of...
ABA, associations urge regulators to fully account for stablecoin risks in annual report
Saying they are deeply concerned about the risk stablecoin payment issuers pose to the overall financial system, ABA and three...
FDIC proposes Bank Secrecy Act, sanctions requirements for stablecoin issuers
The FDIC proposed a new rule to establish Bank Secrecy Act and sanctions compliance standards for stablecoin issuers regulated by...
ABA, plaintiffs urge court to overturn Illinois interchange fee law
Recent actions by the OCC make clear that federal law preempts an Illinois law restricting interchange fees, so a federal...
Fed releases formal proposal to create ‘skinny’ master accounts
After previously seeking public input on the idea, the Federal Reserve issued a formal proposal for establishing payment accounts and...
OCC’s Gould defends agency actions on federal exemption, charter approvals
As more states weigh laws to restrict interchange fees, the OCC will continue to defend federal preemption in courtrooms "as...
