Retail groups ‘disappointed’ in debit card ruling

Retail trade groups expressed disappointment in a court decision that will keep the Federal Reserve’s cap on debit card swipe fees at 21 cents rather than reducing it to a lower level.

“Today we learned the disappointing news that the D.C. Circuit largely upheld the U.S. Federal Reserve’s debit card interchange fee rule and network non-exclusivity rule, reversing the decision of the U.S. District Court that had previously held for the merchants,” said

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