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Appeals court orders Fed to rewrite debit swipe fee rule

Original: Appeals court upholds swipe fee decision, Fed must rewrite rule The Fed could be compelled to lower the cap banks are al

A US appeals court has upheld a ruling that the Federal Reserve set debit card interchange fee caps too high, requiring the central bank to rewrite its rule. The decision could force the Fed to lower the cap on what banks may charge merchants for processing debit transactions. Retailers have long argued the current cap favors banks, while banking groups warn lower fees could push costs onto consumers through new account charges.

Why now: The ruling could significantly change debit fee economics for US merchants and banks

Federal ReserveUS appeals courtAmerican Bankermerchantsbanks

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• Appeals court upholds swipe fee decision, Fed must rewrite rule The Fed could be compelled to lower the cap banks are allowed to charge merchants to process debit card transactions https://www. americanbanker.com/news/appeal s-court-confirms-fed-set-interchange-fee-too-high #… · AlexJimenez@mas.to · 1

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