Judge to Fed: You Work for the People

A U.S. district judge just ruled that the Fed violated both the spirit and letter of the Dodd-Frank Act to help the banks.

Accuse the Federal Reserve of being subservient to Wall Street and you will probably be called a conspiracy theorist -- unless you're a federal judge ruling in the public interest. The latest example comes fromyesterday's decisionby U.S. District Judge Richard Leon, who ordered the Fed to rewrite its rule for debit-card transaction fees.

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