Retail Groups Sue Federal Reserve Over Debit-Fee Rules

WASHINGTON — Three industry associations, including Food Marketing Institute, filed a lawsuit in federal court here last week saying the Federal Reserve failed to follow the requirements of last year's sweeping financial reforms when it set a cap on debit-card interchange fees this year.

“FMI's members will suffer significant and irreparable monetary injury directly traceable to the Board's misconstruction of the statute,” George Green, FMI

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