Durbin Amendment proponents, opponents hail, assail this week's announcement by Fed.
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.
Decision can still be appealed and National Retail Federation said it's considering that route.
Both sides of testy dispute issue statements ahead of New York hearing.
The question of whether or not the Federal Reserve went far enough or too far in capping debit card interchange in accord with the Durbin amendment went before a U.S. District Court Judge recently.
Retailers, issuers to face off again in court Tuesday over interchange rate.
Electronics Payment Coalition does some comparison shopping a year after Durbin amendment took effect.
National Grocers Association comes out against the proposed anti-trust settlement between retailers and the major card brands and some major card issuers.
Illinois senator files brief in case seeking to force Fed to cut interchange costs further.
Rather than pass debit interchange savings from the Durbin Amendment on to consumers, gasoline retailers are pocketing the difference, according to the Electronic Payments Coalition.