A federal appeals court in Washington on Friday reinstated debit card transaction fee regulations struck down last year by a lower court.
The Board of Governors of the Federal Reserve System did not run afoul of the Dodd-Frank Act in adopting the regulations, a three-judge panel of the U.S. Court of Appeals for the D.C. Circuit found. The challengers, retailers and retail trade groups, argued the board went beyond the guidelines Congress laid out for calculating the transaction fee cap and, as a result, set the cap too high.
