Judge rules against swipe fee limits In a win for several retail associations, a federal judged ruled Wednesday that the government erred when it set a cap on the amount of swipe fees banks can charge for debit card transactions. According to The Los Angeles Times, "U.S. District Judge Richard Leon agreed with retailers that the [Federal Reserve] went too easy on big banks in 2011 when it set the limit on such fees at 21 cents for each transaction, overruling its own staff's recommendation for a cap of 12 cents." The National Retail Federation, Food Marketing Institute, National Association of Convenience Stores and two businesses filed the initial lawsuit. The groups… Read More