CLEVELAND—Former Taupa Lithuanian CEO could face 30 years in prison and a $1 million fine.
A three-judge panel may wind up preserving the Fed's debit interchange regulation, which a lower court invalidated last year.
Court documents say conspirators include three employees and three members of the failed Taupa Lithuanian Credit Union of Cleveland.
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.
Debit card issuers, Fed and merchants will present cases regarding how the Fed interpreted Dodd-Frank's Durbin Amendment.
Three employees and three members racked up millions in insufficient funds that caused Taupa Lithuanian Credit Union insolvency.
Electronics Payment Coalition counters NRF and other appealing firms don't represent most retailers.
Legal battle continues over Federal Reserve's interchange rules stemming from Dodd-Frank.
NCUA seeks dismissal of Erie Affiliates Inc. claim, saying suit would hinder Cleveland credit union's liquidation.
Taupa Lithuanian CEO given until Jan. 19 for pre-indictment talks with federal prosecutors.