US Supreme Court wrestles with bid to challenge debit card ‘swipe fee’ rule

March 7, 2024


WASHINGTON (Reuters) -U.S. Supreme Court justices on Tuesday grappled with a North Dakota convenience store's challenge to a government regulation on debit card “swipe fees” – a case that could make it easier for businesses to try to undo longstanding federal rules. Arguments in the case focused on whether the store was too late in bringing its 2021 lawsuit challenging a 2011 Federal Reserve regulation governing how much businesses pay to banks when customers use debit cards to make purchases. The store, called Corner Post and located in Watford City, appealed after lower courts threw out its lawsuit on the basis of missing the six-year statue of limitations that generally applies to such litigation.

Source

Related Articles

Stay Up to Date With The Latest News & Updates

Want to be a guest on the show?

Join Our Newsletter

Follow Us

Follow us for everything That is Good to Know