Merchants Score a Win in Swipe Fee War; RBS Picks New CEO

Receiving Wide Coverage ...

Sideswiped: A federal judge has overturned the Federal Reserve's rule on debit card swipe fee caps, effectively stating that the central bank had set the caps too low. In the decision, the judge said the Fed's rule, which caps fees charged to merchants whenever a customer uses a debit card at 21-cents a transaction, "runs completely afoul of the text, design and purpose" of the Durbin amendment, the Dodd-Frank provision that called...