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Fed wins appeal of ‘swipe fee’ cap

U.S. court reverses debit-card decision favoring retailers

Posted: March 22, 2014 at 3:59 a.m.

FILE - In this Friday, Nov. 18, 2005, file photoCashier Nora Poage rings up a purchase at a Target store in Seattle Wash. A federal appeals court has handed a defeat to a coalition of retail groups that challenged as too high the Federal Reserve's cap on how much banks can charge businesses for handling debit card transactions. The ruling issued Friday, March 21, 2014 by the U.S. Appeals Court for the District of Columbia overturned a lower court's decision in July that favored the merchants and was a setback for banks. (AP Photo/Ted S. Warren, File)

WASHINGTON — A federal appeals court has handed a defeat to a coalition of retail groups that challenged as too high the Federal Reserve’s cap on how much banks can charge businesses for handling debit-card transactions.

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Business, Pages 27 on 03/22/2014

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