Mealey's Banking & Finance - Panel Upholds Federal Reserve's 'Swipe Fee' Rule

WASHINGTON, D.C. - The District of Columbia Circuit U.S. Court of Appeals on March 21 found that the Federal Reserve reasonably interpreted a Dodd-Frank Wall Street Reform and Consumer Protection Act amendment when it finalized rules limiting the fees debit card issuers could pass to retailers, known as "swipe fees," reversing a federal court's summary judgment in favor of merchants (NACS, et al. v. Board of Governors of the Federal Reserve System, No. 13-5270, D.C. Cir.; 2014 U.S. App. LEXIS 5299).

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