8th Circ. Refuses To Block Dodd-Frank Debit Fee Rule

Law360, New York (June 29, 2011, 5:09 PM EDT) -- The Eighth Circuit on Wednesday refused TCF National Bank's request to block implementation of a limit on debit card swipe fees set to take effect next month as part of Congress' financial overhaul.

A three-judge panel agreed with a South Dakota federal court's decision to reject TCF's motion for a preliminary injunction against the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act, which had called for the fees to go into effect on July 21. The Fed pushed back the implementation date...
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