WASHINGTON, D.C. (May 19, 2026) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, sent a letter to the Department of the Treasury in opposition to the Office of the Comptroller of the Currency (OCC) interim final rule which allows card processors to set swipe fees and prevents state laws from addressing the rising cost of swipe fees.

“Swipe fees have become one of the highest overhead costs for small business owners nationwide,” said Beth Milito, Vice President and Executive Director of NFIB’s Small Business Legal Center. “At every turn, this interim rule contradicts the previous standard in favor of big banks and credit card companies. Now, banks and card processors can collude to set even higher swipe fees, padding their bottom lines at the expense of small businesses and consumers.”

President Trump has highlighted the unique harm of credit card swipe fees, encouraging support for the Credit Card Competition Act of 2026, to “stop the out-of-control Swipe Fee ripoff.” NFIB Senior Vice President for Advocacy Adam Temple recently published an op-ed in RealClear Politics urging lawmakers to support the bipartisan legislation, which would allow small business owners to choose between multiple credit card network options. Ninety-two percent of NFIB members believe that small business owners should have the right to pick among multiple credit card processing networks.