News

Merchants miss deadline for rehearing on fee cap decision

May 9, 2014

Retailers have allowed the deadline to request rehearing of their fee cap case against the Federal Reserve Board to lapse without action, according to a CUNA report. This leaves them the sole option of appealing to the U.S. Supreme Court to consider the case.

In March, a U.S. Court of Appeals for the District of Columbia Circuit overturned the lower court ruling in NACS, et al. v. Board of Governors of the Federal Reserve System.

That decision by U.S. Circuit Court Judge Richard Leon sided with retailers, who claimed that caps for surcharge fees on transactions were set too high and that the routing rules were inadequate.

Following the appeals court ruling, retailers had the option to request a rehearing, but apparently decided against it. They now have until June 19 to submit a petition asking for a hearing by the Supreme Court.