The Traderszone Network

Published in TZ Latest News 20 January, 2015 by The TZ Newswire Staff

Supreme Court rejects challenge to debit card ‘swipe fees’ rules

The U.S. Supreme Court on Tuesday declined to hear a challenge to controversial debit card “swipe fee” rules, dealing a blow to retailers, grocers and restaurant owners who argued the charges were unfairly high. Businesses pay the fees to banks when customers use debit cards to purchase goods or services. The fees reimburse banks for costs involved in offering debit cards. The high court’s refusal to hear the case keeps intact a March 2014 ruling by the U.S.

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