Court rules against retailers in swipe fee case A U.S. appeals court has upheld a federal cap on debit card swipe fees, dealing a blow to retail groups who said the cap was set too high. The U.S. Court of Appeals for D.C. ruled Friday that the Federal Reserve was well within its authority when it set a 21-cent cap on debit fees in 2011, reversing a ruling by a lower court that concluded the fees were probably set too high. Among the groups fighting to lower the cap was NACS-The Association for Convenience & Fuel Retailing, which called the appeal's court decision "unfortunate." "Any rule that would allow profit margins of more than 1,000 percent and raise fees on many… Read More