OCC moves to block Illinois ban on swipe fees on taxes, tips
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OCC moves to block Illinois ban on swipe fees on taxes, tips
The draft interim final rule was sent to the Office of Management and Budget for approval and would take effect immediately once OMB has green-lighted the rule.
OCC moves to block Illinois ban on swipe fees on taxes, tips
The Office of the Comptroller of the Currency sent an interim final rule to the Office of Management and Budget that would preempt a controversial Illinois state law barring the collection of interchange fees on taxes and tips interchange.
American Banker (www.americanbanker.com)
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OCC moves to block Illinois ban on swipe fees on taxes, tips
The draft interim final rule was sent to the Office of Management and Budget for approval and would take effect immediately once OMB has green-lighted the rule.
OCC moves to block Illinois ban on swipe fees on taxes, tips
The Office of the Comptroller of the Currency sent an interim final rule to the Office of Management and Budget that would preempt a controversial Illinois state law barring the collection of interchange fees on taxes and tips interchange.
American Banker (www.americanbanker.com)
@AlexJimenez If the OCC can preempt state laws on swipe fees, it could set a precedent for federal regulators to override other state-level consumer financial protections.
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