A three-judge panel may wind up preserving the Fed's debit interchange regulation, which a lower court invalidated last year.
WASHINGTON — Judges reviewing 2013 ruling that tossed out much of the Fed's interchange reg appeared open Friday to leaving much of it in place.
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.
Fed, merchant coalition tell judge they plan to appeal debit interchange ruling.
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.