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Monthly Archives: August 2013
On 31st July, 2013 the District of Columbia trial court invalidated the Federal Reserve Board’s Durbin regulation, suspending the swipe fee regulation in a cloud of open-ended questions. In an exclusive interview with PYMNTS.com, Ronald Mann, Albert E. Cinelli Enterprise … Continue reading
“We urge the Federal Reserve to pursue all legal means to mitigate the harm this decision will cause to consumers, community banks and all institutions that provide financial services to local communities. The Durbin Amendment and the court’s interpretation will … Continue reading
‘The Fed didn’t have the authority to set a 21-cent cap on debit-card transactions’, U.S. District Judge Richard Leon in Washington, rejected the Dodd-Frank imposed rules governing ‘swipe fees’, in a ruling today morning. In his 58-page ruling, Leon asserted, “The … Continue reading