Federal Reserve announcements and official publications

US Supreme Court Rules on Debit Card 'Swipe Fees' Case, Revives Challenge to Federal Regulations Impacting $V and $MA

Jul 1, 2024, 02:04 PM

The US Supreme Court has ruled in a case involving debit card 'swipe fees,' reviving a challenge to a Federal Reserve regulation. This decision, stemming from a North Dakota convenience store's legal challenge, could make it easier for businesses to overturn longstanding federal rules. The ruling potentially opens the door for more lawsuits against federal regulations, dealing a significant blow to the authority of federal agencies. The court's decision allows some regulations to be challenged even a decade or more after they were enacted. Companies like $V and $MA are particularly impacted by this ruling.