Reported 12 months ago
The US Supreme Court ruled in favor of The Corner Post gas station, allowing them to sue over a 2011 Federal Reserve rule on debit card swipe fees despite missing a statute of limitations. The ruling sets a precedent for businesses challenging regulations regardless of timing constraints, making it easier for banks and the payments industry to contest regulations. This decision could lead to an increase in legal challenges against government regulations, potentially impacting financial regulations like the Durbin Amendment to the Dodd Frank law.
Source: YAHOO