The United States Supreme Court has denied a petition for a writ of certiorari in NACS, fka National Association of Convenience Stores, et al., v. Board of Governors of the Federal Reserve System. The denial effectively ends the retailers efforts to overturn the Federal Reserve’s interchange fee rules which establish a cap of 21 cents plus an adjustment for fraud losses of 0.05 percent of the transaction value on all debit card transactions.
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