Feds appeal swipe fee decision The Federal Reserve announced Wednesday it would appeal a court ruling striking down the agency's 21-cent cap on debit card swipe fees—a move the associations that brought the lawsuit were quick to criticize. The lawsuit by the National Retail Federation, Food Marketing Institute and NACS-The Association for Convenience & Fuel Retailing alleged that when the Fed initially set the cap in 2011, it went too easy on banks and ignored the advice of its own staff, which recommended a 12-cent-per-transaction cap. A U.S. District Court judge agreed with associations, ordering the Fed to reconsider its decision in a ruling in July. However, the… Read More