The U.S. Federal Reserve may continue with a cap on debit card swipe fees while it appeals a July ruling that rejected it, a federal judge ruled, according to Reuters news service.
U.S. District Judge Richard Leon on Sept. 20 ordered his own ruling stayed, pending one from a higher court, the U.S. Court of Appeals for the District of Columbia Circuit, Reuters reports.
The 2010 Dodd-Frank financial regulatory law directed the Fed to limit swipe fees, which banks charge merchants when customers use debit cards.
