Chief Judge Virginia M. Kendall has expanded the injunction against the Illinois Interchange Fee Prohibition Act that limits socalled “swipe fees” on tax-and-tip-portions of transactions following the National Credit Union Administration’s (NCUA) interim final preemption rule in June, which followed similar preemption action by the Office of the Comptroller of the Currency in April. See Illinois Bankers Association v. Raoul, No. 24-C-7307, __ F.Supp.3d __ (N.D. Ill., Sept. 22, 2026) and our ALERTS of June 8 and May 26, 2026.
Month: September 2026
Conference Of State Bank Supervisors Issues Letter In Support Of Didmca Bill
Didmca Opt-out Clarification Bill Progresses In House
The U.S. House Financial Services Committee has approved the American Lending Fairness Act of 2026 (H.R. 7866). The bill would clarify state opt-outs under Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA) for state-chartered banks and credit unions. A companion bill was introduced in the U.S. Senate.
FDIC Proposes Rule To Establish Parity Between Out-Of-State State Banks And National Banks
The Board of Directors of the FDIC approved a proposed rule to recognize parity between out-of-state state banks and national banks
concerning the application of host state laws when state banks provide services outside of their chartering state. Under the
proposed rule, when host state laws do not apply to a national bank, those laws would similarly not apply to an out-of-state state bank providing services in the host state with or without a branch.
OCC and FDIC to Prioritize Material Financial Risks
The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation issued a joint final rule to define the term “unsafe or unsound practice” for purposes of Section 8 of the Federal Deposit Insurance Act (FDIA) and revised the supervisory framework for the issuance of matters requiring attention (MRA) focusing on material financial risk.