Dive Summary:

• On Wednesday, a federal U.S. judge ruled against the 2010 swipe-fee legislation put in place by Congress which dictates how debit card swipe-fees are applied during consumer purchases.
• Judge Richard Leon said the Federal Reserve incorrectly utilized the swipe-fee legislation by applying additional charges not intended to be included in swipe-card fees
• Several major retail advocacy groups have publicly supported the ruling and believe it is a major victory for retail consumers against the rising costs of swipe-card fees.

From the article:

“Congress clearly told the Fed to introduce competition and transparency into the debit card marketplace by making multiple networks available, so as to reduce swipe fees for merchants and their customers,” Mallory Duncan, senior vice president and general counsel of NRF, said in a statement. “The Fed failed to do so, and the court rightly ruled against them as a result…”