August 18, 2014
Retailers on Monday urged the U.S. Supreme Court to undo the Federal Reserve's rule for debit card swipe fee limits, arguing it unlawfully allows banks to inflate by billions of dollars annually the interchange fees they charge merchants and thus consumers.
August 29, 2013
The retailers opposing the Federal Reserve's current debit card transaction fee limits urged a Washington federal judge Wednesday to stay a ruling in their favor that invalidated Fed rules, warning that because no alternate framework yet exists, it would leave the debit industry unregulated.
August 21, 2013
The Federal Reserve System told a Washington federal judge on Wednesday that it will appeal his ruling nixing their debit card transaction fee limits and fight to keep the rule in place while it awaits a D.C. Circuit decision.
July 31, 2013
A federal judge in Washington on Wednesday said the Federal Reserve's 2011 rules limiting debit card transaction fees were "indefensible" and went counter to congressional intent to rein in so-called swipe fees, sending the rule back for a rewrite.
October 02, 2012
A retail and convenience store coalition urged a Washington federal judge on Tuesday to toss the Federal Reserve's rule on debit card transaction fees, claiming the board ignored Congress' intent for the fees under the Dodd-Frank Act and saddled small-transaction businesses with steep costs.
May 24, 2012
A coalition of national fast-food and convenience store chains including Burger King Corp. and 7-Eleven Inc. on Tuesday threw its support behind retailers challenging the level at which the Federal Reserve has set debit card transaction fees as mandated by the Dodd-Frank Act.
April 16, 2012
The Federal Reserve on Friday urged a judge to toss a suit by retailers challenging the level at which it has set debit card transaction fees, saying the level was reasonable and didn't overstep the Fed's authority to set the limits granted by the Dodd-Frank Act.
March 15, 2012
The Federal Reserve's flawed restrictions on debit card fees already are hurting banks and credit unions, but the legal quest by retailers to lower the cap on debit card transaction fees would only worsen the impact, a coalition of financial industry groups said Thursday.
March 05, 2012
Retailers challenging the Federal Reserve Board's restrictions on debit card fees on Friday said that the central bank went against Congress' intent in deciding how fees would be determined, and should not receive a deferential judicial review.
November 22, 2011
The National Retail Federation and other retail organizations on Tuesday sued the U.S. Federal Reserve in Washington federal court for allegedly caving to banks and adopting an unreasonably high cap on debit card transaction fees.