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Appeals court orders Fed to rewrite debit card 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 federal appeals court has upheld a ruling that the Federal Reserve set debit card interchange fee caps too high, ordering the central bank to rewrite its rule. The decision could force the Fed to lower the cap on what banks may charge merchants to process debit card transactions. Retailers have long argued the current cap favors banks, while banking groups warn lower fees would squeeze card-issuing revenue.

Why now: The ruling directly affects debit card fee economics for banks and retailers, prompting debate over who benefits from lower interchange caps.

Federal ReserveUS appeals courtdebit card interchange feesmerchantsbanks

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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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