Fed Says It Will Appeal Debit-Card Swipe Fee Ruling

Law360, Washington (August 21, 2013, 5:55 PM EDT) -- 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.

Although U.S. District Judge Richard J. Leon set Wednesday's status conference in order to discuss how the Fed would move forward with an interim final rule in the wake of his sharply worded July 31 opinion calling the 2011 swipe fee rules "indefensible," the Fed's general counsel...
To view the full article, register now.