Federal Reserve brief details its arguments in seeking stay of judge's rejection of much of interchange rules.
Briefs filed this week lay out positions, including merchant coalition that banks and card brands would hike interchange while case moves forward.
Washington appeals court posts schedule for Fed's Durbin overthrow appeal.
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.
The former board president of the $23.6 million Taupa Lithuanian Credit Union disputed statements made by another former board member to Credit Union Times, and provided new details about the failed credit union’s governance.
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.
Hearing on Wednesday to focus on how Fed would replace interchange cap and network rules.
Judge raised the possibility of ordering card issuers to pay merchants while he gave Fed another week to explain how it would amend cap rule.
Suspects allegedly targeted Navy Federal members who were lease applicants at a Norfolk, Va., apartment complex.