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US: Interchange cap dispute remains on SCOTUS docket

By  |  January 11, 2015

The US Supreme Court is rumored to soon decide whether to take on a legal dispute surrounding the Federal Reserve Board’s cap on debit card interchange fees, reports say.

As of Sunday evening, SCOTUS’s website had the case listed on its docket. Unnamed sources say that won’t be long, however.

The suit was first launched by the National Association of Convenience Stores, which says the Fed established the swipe-fee cap at too high a rate through the Durbin Amendment.

The Supreme Court is now set to determine whether an appeals court decision in favor of the Fed should stand, or if it should hear the appeal, which would potentially force the payment card industry and federal policymakers back to square one regarding interchange fee regulation.

Reports say SCOTUS would hand the case down in June of 2016 if it decides to hear it, nearly five years after the Fed issued its regulations.

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