Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Merchants Ask for Swipe-Fee Status Quo During Fed Appeal

The U.S. Federal Reserve’s rules for debit-card transaction fees and processing should remain in place while the central bank appeals a decision throwing out the regulations, according to retailers who oppose the new directives.

Retailers “vastly prefer the status quo” to the “unregulated ‘free for all’ which would likely subject merchants to interchange fees well in excess of the Fed’s currents standard,” lawyers for retail interests wrote in papers filed today in federal court in Washington.

The merchants’ filing was in support of the Fed’s Aug. 26 request that the rules be left in place pending the central bank’s appeal.

The Fed is seeking to reverse U.S. District Judge Richard Leon’s ruling that it wrongly set the cap on debit-card transaction fees, known as swipe fees, at about 21 cents for each transaction, and neglected to bolster competition among payment networks.

If the Fed loses the appeal, it should be required to issue new rules within four months, retailers said in today’s filing.

The case is NACS v. Board of Governors of the Federal Reserve System, 11-cv-02075, U.S. District Court, District of Columbia (Washington).

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.