CardRates.com: Home > Credit Card News Interchange Battle Intensifies as OCC Targets Illinois Law
“The OCC is taking advocating for big Wall Street banks to a whole new level,” Doug Kantor, National Association of Convenience Stores General Counsel and Executive Committee Member of the Merchants Payments Coalition, told Payments Dive. “The court clearly ruled that Illinois can regulate credit card swipe fees.”
READ MORE +
Chain Drug Review: Wall Street swipes Mother’s Day carnations with almost $900 million in credit card fees
"Credit card swipe fees are taking carnations right out of every mom’s bouquet this year,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said. “When these fees inflate the cost of flowers, or a special brunch for Mom, Americans’ dollars don’t go as far as they should. Credit card companies make life less affordable every day for Mom — and the rest of the family. Do Wall Street banks and credit card companies even care that it’s Mother’s Day?"
READ MORE +
Payments Dive: How the Visa-Mastercard card fee case may end
Doug Kantor, general counsel for NACS, the convenience stores’ trade group (and MPC Executive Committee member), said in an interview April 9 that “the settlement does absolutely nothing to require or incentivize banks to compete with each other, which is the central problem in all of this.”
READ MORE +
Credit Union Daily: Rising Gas Prices Give Merchants Group Fuel to Highlight Swipe Fees
“Big banks and card networks are seeing a windfall as fuel prices rise,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said in a statement. “It doesn’t cost them any more to process gas purchases at $4 a gallon than it did at $2, but they are collecting more on every gallon and profiteering on the backs of American motorists. Swipe fees drive up the price of gas in the family car but do the same for the diesel that fuels tractor-trailers, ultimately adding to the price of every product delivered over our nation’s highways. This is part of the swipe fee ripoff condemned by President Trump, and it’s time for Congress to follow his lead by bringing competition to these price-fixed fees.”
READ MORE +
Bloomberg: Merchants Use Iran War Gas Spike to Lobby for Curbing Swipe Fees
“Big banks and card networks are seeing a windfall as fuel prices rise,” said Doug Kantor, general counsel at the National Association of Convenience Stores and an executive committee member of the merchants’ coalition, in a statement shared first with Bloomberg Government. ... “This is part of the swipe fee ripoff condemned by President Trump, and it’s time for Congress to follow his lead by bringing competition to these price-fixed fees,” Kantor said.
READ MORE +
Convenience Store News: Credit & Debit Card Swipe Fees Neared $200B in 2025
Swipe fees charged by big banks and card networks to process credit and debit card transactions totaled $198.25 billion in 2025, up 5.9% from the previous year. Visa and Mastercard credit card swipe fees again made up the majority of 2025 swipe fees at $118.8 billion, according to the Merchants Payments Coalition.
READ MORE +
Payments Dive: OCC plans to preempt Illinois interchange law
National retail organizations contended the OCC move was wrongheaded. “The OCC is taking advocating for big Wall Street banks to a whole new level,” National Association of Convenience Stores general counsel, Doug Kantor, said by email. “The Court clearly ruled that Illinois can regulate credit card swipe fees.” “The OCC should recognize that the Illinois law is a good thing that will help people save on everything from gas to groceries,” added Kantor, who is also an executive committee member of the Merchants Payments Coalition.
READ MORE +
Gifts and Decorative Accessories: Big Banks See Profit Surge from Credit Card Swipe Fees as Fuel Prices Rise
“Big banks and card networks are seeing a windfall as fuel prices rise,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said. “It doesn’t cost them any more to process gas purchases at $4 a gallon than it did at $2, but they are collecting more on every gallon and profiteering on the backs of American motorists. Swipe fees drive up the price of gas in the family car, but do the same for the diesel that fuels tractor-trailers, ultimately adding to the price of every product delivered over our nation’s highways. This is part of the swipe fee ripoff condemned by President Trump, and it’s time for Congress to follow his lead by bringing competition to these price-fixed fees.”
READ MORE +
Bloomberg: US Moves to Block Illinois Swipe Fee Law During Banks’ Appeal
“It looks like the OCC is trying to overturn a federal district court ruling that they lost on,” said Doug Kantor, general counsel at convenience store group NACS and a member of the Merchants Payments Coalition’s executive committee. “It’s a pretty outrageous power grab, as far as I can see.”
READ MORE +
Capitol Account: OCC Chief Looks to Bolster Banks in Interchange Case
“It appears to be an outrageous power grab,” says Doug Kantor, (MPC Executive Committee member and) general counsel for the National Association of Convenience Stores, which backs the interchange limits.
READ MORE +