DC Circ. Appears To Side With Fed In Fee Limits Row

Law360, Washington (January 17, 2014, 7:15 PM EST) -- The D.C. Circuit on Friday signaled that it might reverse a lower court’s decision invalidating the Federal Reserve's limits on debit card transaction fees, saying it didn’t buy part of a retailer groups’ argument that the Fed went outside its statutory authority in setting the cap.

At oral argument, a three judge panel dismissed the retailers' argument that the Fed's interchange fee standard is foreclosed by the plain language of an amendment to the Consumer Financial Protection Act of 2010. The retailers had argued that the...
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