FMI Applauds Swipe Fee Ruling

ARLINGTON, VA - July 31, 2013 - In response to today's ruling in the case of NACS v. Board of Governors of the Federal Reserve System, The Food Marketing Institute released the following statement: "We are delighted that the court agreed that the Federal Reserve Board exceeded its authority under the law in nearly doubling the interchange fees banks are allowed to charge merchants for debit transactions.  This ruling marks a major victory for supermarket shoppers and will ultimately result in lower costs at the checkout line by billions."


About FMI

As the food industry association, FMI works with and on behalf of the entire industry to advance a safer, healthier and more efficient consumer food supply chain. FMI brings together a wide range of members across the value chain — from retailers that sell to consumers, to producers that supply food and other products, as well as the wide variety of companies providing critical services — to amplify the collective work of the industry. www.FMI.org