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 federal banking policy and would raise costs for independent grocers and their customers.
“NGA strongly opposes the OCC’s interim final rule, which permits national banks to establish interchange fees through third‑party arrangements,” said Greg Ferrara, NGA president and CEO. “This approach undermines competition and increases costs for independent community grocers and the customers they serve.”
Interchange fees are embedded in nearly every credit and debit card transaction. Under current practice, banks that issue cards compete with each other, which helps set fee levels. The OCC’s rule would allow banks to rely on third‑party arrangements, potentially reducing competitive pressure and leading to higher fees. For independent grocers operating on net margins of 1‑2 percent, even a small increase in swipe fees cuts directly into profitability.
“Independent grocers serve communities in every corner of the country, and interchange fees are embedded in nearly every card transaction,” Ferrara said.
“As a result, the OCC’s interim final rule would have far‑reaching negative consequences for community grocers, consumers and competition throughout the marketplace. NGA appreciates President Trump’s support for lowering swipe fees through the Credit Card Competition Act. Unfortunately, the OCC’s decision moves in the opposite direction, reinforcing the market dynamics that have driven interchange fees higher and increased costs for businesses and consumers.”
NGA urged the OCC to withdraw the rule and preserve the principle that fee‑setting authority under the National Bank Act should remain grounded in competition among banks.
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