Within a month, two U.S. district judges ruled in cases challenging swipe fee regulation. Both lawsuits were brought against the Federal Reserve over its implementation of the Durbin Amendment. Back-to-back lawsuits point to fundamental issues with the underlying law. When the law distorts a market, nothing built on top of it can ever stand securely. […]
Within a month, two U.S. district judges ruled in cases challenging swipe fee regulation. Both lawsuits were brought against the Federal Reserve over its implementation of the Durbin Amendment. Back-to-back lawsuits point to fundamental issues with the underlying law. When the law distorts a market, nothing built on top of it can ever stand securely. […]
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