Jul 31, 2013
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."
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