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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.