Retailers Appear to Accept Fed’s Two Payment Network Rule
The National Federation of Retailers has only addressed the interchange fee limits in its petition to the Supreme Court to overturn the Federal Reserve Board’s interchange rule. It appears they have accepted the Fed’s positon that debit card issuers must ensure that two unaffiliated payment networks are available to cardholders. Originally, retailers had argued that the Durbin Amendment to the Dodd-Frank Act required card issuers provide more than two options. [8/21/14]
