Banks, Merchants, Consumers Spar In Durbin Suit

Law360, New York (March 15, 2011, 8:13 PM EDT) -- Bankers, retailers and consumers filed amicus briefs Friday in a South Dakota federal court, backing or decrying a challenge to the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act limiting financial institutions' debit transaction fees.

Bankers' associations and some economists supported TCF National Bank's suit challenging the amendment. But the Retail Litigation Center Inc., advocacy group U.S. PIRG and class plaintiffs in multidistrict litigation over interchange fees filed briefs in the U.S. District Court for the District of South Dakota supporting the...
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