Merchants Get More Time to Petition Supreme Court in Debit Interchange Case (June 24, 2014)
A consortium of merchant groups has been given more time to decide if it will try to take a long-running lawsuit against the Federal Reserve Board of Governors to the U.S. Supreme Court. The National Association of Convenience Stores (NACS), one of the lead plaintiffs in the suit, NACS v. Board of Governors of The Federal Reserve System, has been granted an extension by the U.S. Court of Appeals for the District of Columbia to challenge the appellate court’s March decision reversing a lower court’s ruling that the Fed had set too high a limit on debit card interchange fees in 2011. With the 30-day extension granted, NACS and the other plaintiffs have until July 21 to file a petition to the Supreme Court.
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