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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 fees too high, forcing the central bank to rewrite its rule. The decision could compel the Fed to lower the cap on what banks may charge merchants to process debit card transactions, a change retailers have long sought and banks have resisted.

Why now: The ruling could significantly lower debit swipe fees, affecting merchants, banks and consumers.

Federal ReserveUS appeals courtUS banksmerchants

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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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