Judge Rejects Durbin Amendment Cap On Debit-Card Fees

U.S. District Judge Richard Leon rejected the Durbin Amendment, which approved a 21-cent limit on swipe fees in October 2011, according to PYMNTS. The judge said the federal government didn’t have the authority to set the 21-cent cap on debit card fees and disregarded Congress’s statutory intent by inappropriately inflating all debit card transaction fees…” Several associations, including the National Retail Federation and national convenience store association echo the judge’s assertions. Full article.