It might be unusual, but all sides in the Federal Reserve's debit interchange regulation battle have urged the court to leave the now-overturned regulation in place pending appeal.

U.S. District Court Judge Richard Leon dispatched two-thirds of the Federal Reserve's current debit interchange regulation on July 31, agreeing with the opinion of the case's merchant plaintiffs that the Fed had failed to follow the law in developing the regulation.

But Leon refrained from executing his decision until he heard from all parties to the case about what they believed the best course of action would be. 

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Payments/Credit/Debit