Appeals Court Upholds Striking Down Fed's Debit Card Fee Cap
FROM THE WIRE · PYMNTS.COM
A federal appeals court has upheld a lower court ruling striking down the Federal Reserve’s 21-cent cap on debit card interchange fees.
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishThe ruling favors banks and card networks by removing a cap on debit card interchange fees.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01A federal appeals court upheld a lower court ruling.
- 02The ruling strikes down the Federal Reserve's 21-cent cap on debit card interchange fees.
- 03The cap applied to interchange fees on debit card transactions.