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- Fed Appeals Debit Interchange RulingThe U.S. Federal Reserve is appealing Federal Judge Richard Leon’s ruling that struck down its 21-cent cap on debit interchange fees. Scott Avarez, general counsel for the Fed, asked Leon to keep the current rule in place as the appeal is pending.
- Judge Urges Fed to Move Swiftly on Debit InterchangeFederal Judge Richard Leon, who recently struck down the 21-cent cap on debit interchange fees, is putting pressure on the Federal Reserve to decide its next move. The Fed has until August 21 to state its position and indicate how soon an interim rule could be put in place.
- Debit Interchange Fee Cap Nixed: What’s Next?There are many questions about what will happen next for debit interchange fees following Judge Richard Leon’s ruling last week which struck down the fee cap set by the Federal Reserve in 2011. NACS, one of the retail trade associations that filed suit over the rule in November 2011, discussed what the next steps could be.
- Change-Up: Debit Interchange Fee Cap Struck DownRetail treasurers scored a win this week when a federal judge ruled that the cap on debit interchange fees is too high and effectively struck it down. However, retailers should not celebrate yet—there are still some wildcards at play.
- EC Interchange Caps a Sign of an International Trend?The caps on interchange fees proposed by the European Commission last week are subject to approval and are sure to receive considerable pushback from Visa, MasterCard and the banks. But the caps are a sign of an international trend that should be worrisome to the card networks and banks.