Eighth Circuit Upholds Vacatur of Debit Card Fee Cap
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On October 27, 2026, the U.S. Court of Appeals for the Eighth Circuit upheld the lower court’s decision vacating the Federal Reserve’s cap on debit card interchange fees and required the Federal Reserve to establish fee standards consistent with the limits of the law. The dispute centered on the scope of costs that the Durbin Amendment to the Dodd-Frank Act permits to be included in interchange fees. Merchant groups argued that the current rates result in banks charging excessive fees, while credit unions maintained that debit transaction infrastructure, fraud monitoring, and network connectivity all require ongoing investment.
AI-written from reports · updated 2 hours ago
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- PYMNTSSelectedU.S. Court of Appeals for the Eighth Circuit upholds ruling overturning the Federal Reserve’s cap on debit card interchange fees
The U.S. Court of Appeals for the Eighth Circuit upheld a lower court ruling overturning the Federal Reserve’s cap on debit card interchange fees and ordered the Fed to set fee standards within the bounds of the law. The dispute concerns which costs the Durbin Amendment allows to be included in interchange fees; merchant groups argue that current rates allow banks to charge too much, while credit unions say debit transaction infrastructure, fraud monitoring, and network connectivity also require ongoing investment.
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