NCUA Federal Credit Union Non-Interest Fees & Preemption

Current understanding

The NCUA is adopting an interim final rule clarifying that federal credit unions (FCUs) have broad statutory authority under the Federal Credit Union Act to impose non-interest fees and charges incidental to their operations, including interchange fees from card programs, even where those fees are set by or in consultation with third parties (e.g., card networks). The rule reinforces federal preemption of state-law limits on such fees and codifies NCUA’s long-standing interpretive position. Status: interim final rule (effective on publication, subject to comment).

Evidence log

• 2026-05-18 — Implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act for the Issuance of Stablecoins by Entities Subject to the Jurisdiction of the National Credit Union Administration: Same NCUA rulemaking wave: alongside fee/preemption clarification, NCUA proposed a GENIUS Act implementation rule authorizing federally insured credit union subsidiaries to issue payment stablecoins and tokenized shares, expanding NCUA’s regulatory footprint into digital-asset issuance. (novelty: 3)
• 2026-05-19 — Preemption Determination: State Interest-on-Escrow Laws: cross-connection with real-estate-lending-escrow-accounts: Both address federal preemption of state laws limiting fees/interest terms — OCC for national banks’ escrow accounts, NCUA for federal credit union non-interest fees. (novelty: 3)

Open questions

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