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Final Rules Debit Cards

Ballard Spahr LLP

Bank and Credit Union Industry Groups Challenge Illinois Interchange Fee Prohibition Act as Unlawful and Urge the Court to Stop...

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On August 15, 2024, the Illinois Bankers Association, American Bankers Association, America’s Credit Unions, and Illinois Credit Union League filed a complaint for declaratory and injunctive relief against the Illinois...more

Ballard Spahr LLP

Supreme Court Opens Door to More APA Challenges by Ruling that Right of Action Accrues When Regulation First Causes Injury

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On July 1, 2024, the Supreme Court issued its opinion in Corner Post, Inc. v Board of Governors of the Federal Reserve System in which the Court determined when a Section 702 claim under the Administrative Procedure Act (APA)...more

Ballard Spahr LLP

SCOTUS to hear oral argument on February 20 to determine timing for facial challenges to federal regulations

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The U.S. Supreme Court has scheduled oral argument for Tuesday, February 20, 2024 in Corner Post, Inc. v Board of Governors of the Federal Reserve System. The question that the Supreme Court will decide is when a right of...more

Ballard Spahr LLP

Federal Reserve considering revisions to debit card interchange fees

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The Board of Governors of the Federal Reserve (FRB) is holding an open meeting on October 25, 2023 to discuss proposed revisions to the Board’s debit interchange fee cap contained in Regulation II, which implemented the...more

Sheppard Mullin Richter & Hampton LLP

*UPDATE* New York State Department of Labor’s Direct Deposit and Debit Card Notice Regulations Held Invalid and Revoked

As we previously reported here, the New York State Department of Labor (“NYSDOL”) issued final regulations in September 2016 imposing new notice and consent requirements on employers who pay wages via direct deposit and debit...more

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