The Federal Reserve may appeal U.S. District Court Judge Richard Leon's interchange debit decision by arguing the judge gave undue weight to opinions of Sen. Richard Durbin (D-Ill.) when evaluating the regulation.
Judge Leon agreed with the merchant plaintiffs on July 31 when he threw out two thirds of the regulator's debit card interchange rule, saying the Fed had departed from the law and ordering a rewrite.
The Federal Reserve appealed Leon's opinion on Aug. 21, and hinted at a possible appeal position in Aug. 28 briefs that requested Leon to stay his order, pending the appeal.
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