The National Retail Federation has filed its expected appeal of the court decision that locked in a settlement of long-standing retailer complaints about credit card interchange.
Electronics Payment Coalition counters NRF and other appealing firms don't represent most retailers.
Merchants and card issuers released separate studies Oct. 1 that made contradictory claims regarding the effect the Durbin Amendment’s interchange cap has had on consumers. The groups timed their releases to coincide with the two-year anniversary of cap’s effective date.
Electronic Payments Coalition report counters debit interchange savings found in retailers report issued earlier Tuesday.
Whether or not the Federal Reserve can or will appeal the July 31 court decision that overturned two-thirds of its debit interchange regulation hinges on several unresolved legal questions.
Judge didn't hint outcome in oral arguments. Unresolved questions - including legal standing - about ability to appeal.
Trades also indicate possible appeal after federal court throws out Fed's 21-cent cap.
Durbin Amendment proponents, opponents hail, assail this week's announcement by Fed.
Card fight promises to go another round.
The multiple-party, multiple-year case over credit card interchange moved one step closer to resolution on Nov. 9 when the Honorable Judge John Gleeson granted preliminary approval of the settlement agreement between retailers, payment networks and nine major card issuers.