Retailers Back Fed's Bid To Stay Debit Swipe Fee Ruling

Law360, Washington (August 29, 2013, 2:34 PM EDT) -- 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.

Although the merchants reiterated that they believe the Fed's 2011 rules must be vacated at some point, they said a replacement regime must be in place and the Federal Reserve has refused to create those new regulations until its D.C. Circuit appeal...
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