Accel Network Publishes Industry Update - U.S. Supreme Court Decision on Debit Interchange
01/27/15: On January 20, 2015, the U.S. Supreme Court rejected a merchant group petition to hear arguments against the Federal Reserve rules pertaining to interchange transaction fees on debit cards and network non-exclusivity.
The merchant group, which included the National Association of Convenience Stores (NACS), the Food Marketing Institution (FMI), the National Retail Federation (NRF), the National Restaurant Association, Boscov’s Department Stores, and Miller Oil Company, filed the petition last year.
The recent decision by the U.S. Supreme Court leaves in place the U.S. Appeals Court for the District of Columbia’s decision in March 2014 upholding the Federal Reserve’s original ruling. As such, the Federal Reserve regulations (Regulation II or Durbin Amendment) enacted in 2013 remain intact.
Although this recent decision effectively ends a three-year court battle over debit transaction fees and network routing exclusivity, retailers and associated industry associations are expected to continue pressing the issue.
Please contact Accel at 800-519-8883 with any questions about the information in this bulletin.
Meta ATM Team