The American Independent Retailers Association is raising a new alarm over card payment fees. The National Grocers Association (NGA), which represents the independent supermarket sector in the United States, has submitted official comments to the Office of the Comptroller of the Currency (OCC), challenging a new rule that, according to the organization, risks increasing costs for merchants and consumers.
At the heart of the controversy is the revision of federal regulations on interchange fees, also known as "swipe fees," which are applied to nearly all payment card transactions. According to the NGA, the OCC's rule represents a significant shift from traditional US banking policy, as it would allow national banks to receive fees established through agreements with third parties rather than through competition among banking institutions.
"We strongly oppose the OCC's interim rule, which allows national banks to set interchange fees through agreements with third parties," said Greg Ferrara, NGA president and CEO. "This approach undermines competition and increases costs for independent supermarkets and the customers they serve every day."
In its comments to the banking regulator, the association emphasizes that the new approach could weaken the competitive dynamics that have historically governed the setting of fees under the National Bank Act. This change, according to NGA, would ultimately translate into higher costs throughout the distribution chain.
The association also points out that interchange fees are embedded in virtually every electronic payment, and therefore any increase would have widespread effects across the entire market. The repercussions, NGA argues, would fall not only on independent supermarkets but also on end consumers, through increased operating costs and a reduced competitiveness of the system.
Ferrara also noted President Donald Trump's support for fee reductions through the Credit Card Competition Act, emphasizing that the OCC's decision goes in the opposite direction. "The rule reinforces the market dynamics that have contributed to rising fees and costs for businesses and consumers," he stated.
For this reason, NGA calls for the measure to be withdrawn and calls on the OCC to maintain the principle that fee setting must remain based on competition among banks.
The National Grocers Association represents the independent U.S. grocery retail sector, an industry that generates more than $250 billion in revenue, employs approximately 1,1 million people, and contributes more than 1,2% of the U.S. economy.
