Federal Reserve has until October 20 for appeal arguments; merchants have until November 20
Respondents air it out in trade group's survey. NAFCU says it's seeking transparency.
In briefs filed August 28, all parties to a recent decision overturning the Federal Reserve’s debit interchange regulation urged U.S. District Court Judge Richard Leon to leave it in place until further appeals of his July 31 decision are exhausted.
Trades add their voices to briefs filed with federal judge in interchange swipe case.
NAFCU general counsel Carrie Hunt says she still sees "negative downstream effect" in proposed changes to qualified residential mortgage rules.
The Federal Reserve announced in an Aug. 21 court hearing it will defend its current debit interchange rule before an appeals court. And in a twist, the Fed also said it will join forces with its opponents to seek a speedy appeal decision.
An irate judge threw the Federal Reserve another curve ball during an Aug. 14 hearing when he gave the regulator until Aug. 21 to persuade the court why its 21-cent interchange debit cap should not end.
NAFCU announced Aug. 12 the promotion of several employees as well as the separation of its marketing and communications functions that resulted in the dismissal of an executive.
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.
As new CEO Berger settles in, Carrie Hunt now senior vice president of government affairs. SVP Karen Tyson let go.