Eighth Circuit Strikes Down Federal Reserve’s 21-Cent Debit Card Fee Cap
Courthouse News Service
"The Eighth Circuit ruled Monday that the Federal Reserve Board must rework its long-standing rule capping how much banks can charge to process debit card transactions. For over a decade, banking and retail industries operated under the Fed’s 21-cent interchange fee cap, a one-size-fits-all formula established after Congress instructed the central bank to address 'unchecked' fees."
