NACS V. THE FEDERAL RESERVE SYSTEM
Court: U.S. Supreme Court (certiorari stage)
Lower Court: U.S. Court of Appeals for the District of Columbia Circuit
The RLC submitted a brief asking the U.S. Supreme Court to grant certiorari and reverse the D.C. Circuit's judgment upholding the Federal Reserve's regulation on debit interchange fees. The Federal Reserve improperly interpreted the Durbin Amendment when it allowed banks to include their fixed costs in the fees that are charged to retailers for debit transactions. If left unchanged, retailers and their customers will continue to pay unnecessary charges contrary to the law.
The U.S. Supreme Court denied the petition for certiorari.
Case Procedure and Documents: