Retailers won a huge victory on Wednesday as a judge ordered the Federal Reserve to lower the limits on swipe fees for debit card transactions.
U.S. District Judge Richard Leon struck down the 21-cent cap set by the Fed nearly two years ago as too high, saying the central bank had ignored the will of Congress. Read More
Overturning the Federal Reserve's cap on debit interchange for large debit issuers will hurt credit unions, the industry's two largest trade associations said last Wednesday after a federal judge threw out the cap. Read More
Now that U.S. District Judge Richard Leon has invalidated almost all of the Federal Reserve's debit regulations, what might be the next steps? Read More
Whether or not the Federal Reserve can or will appeal last week’s decision overturning two-thirds of its debit interchange regulation hangs in the balance because of several unresolved questions. Read More