Insights Landing

Insights

Close-up of credit cards.
May 14, 2026 Blog

OCC Preempts Illinois Interchange Fee Law

The OCC issued two interim final actions preempting the Illinois Interchange Fee Prohibition Act, causing the Seventh Circuit to vacate and remand related proceedings to the district court.
All Insights

Get Our Latest Insights Direct to Your Mailbox

Subscribe

Latham in Focus Video Series

The Book of Jargon Series – Word of the Day®

The Book of Jargon® is a series of practice area and industry-specific glossaries published by Latham & Watkins.

Somatic Cell

any Cell of the body other than reproductive Cells.

Word of the Day®

Pari Passu

If your Latin is a little rusty, this means “on equal footing” or equality of treatment, e.g., in a right of payment. In Startups, Pari Passu typically describes classes of Preferred Stock that have the same rights (as set forth in a company’s Charter).

Word of the Day®

Good Faith

acting honestly and fairly towards one’s counterparties. Similar to acting reasonably. Good Faith is also a critical component of a Director’s Duty of Loyalty.

Word of the Day®

Hydropower

power derived from the energy of falling or fast-flowing water.

Word of the Day®

Earn Out

a provision in a Mortgage ensuring that the Borrower will be able to obtain additional funds if certain conditions of the business are met. This allows for the Borrower to reap the benefits of projected earnings, since the lender is not willing to loan additional funds for those future earnings.

Word of the Day®

In each episode of Connected With Latham, we discuss ideas, developments, and trends shaping the global economy.

Listen here or subscribe via Apple PodcastsSpotify, or anywhere else you listen to podcasts.

From Our Blogs

Close-up of credit cards.
May 14, 2026

OCC Preempts Illinois Interchange Fee Law

The OCC issued two interim final actions preempting the Illinois Interchange Fee Prohibition Act, causing the Seventh Circuit to vacate and remand related proceedings to the district court.