Corner Post v. Federal Reserve Board of Governors

NACA joined a broad amicus effort in the Eighth Circuit Court of Appeals to support the affirmance of the District Court’s decision to invalidate the Federal Reserve’s creation of a new rule that would allow banks and credit card companies to charge additional fees to consumers that are otherwise not permitted by law.  If the Fed’s rule is allowed to go into effect, consumers will be forced to pay additional fees for each debit transaction that go far beyond what the law currently allows companies to charge consumers and also allow banks to shift the costs of credit card fraud onto consumers.