U.S. District Court Judge Richard Leon “gave undue weight” to some of the opinions of Sen. Richard Durbin (D-Ill.) when evaluating its debit interchange regulation, the Federal Reserve said this week.
The regulator made the contention in its brief asking the Washington-based judge to leave its existing debit interchange rule in place pending the Fed's appeal of his July 31 decision.
This argument, along with some others, is meant to demonstrate that the appeal effort has a significant chance of success, the Fed's attorneys argued.
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