Two retail associations sued the Federal Reserve Board of Governors April 29 over what they claim is a failure by the federal agency to properly enforce a federal law that caps the fees that can be charged on debit transactions.
The North Dakota Retail Association and the North Dakota Petroleum Marketers Association filed the lawsuit in the U.S. District Court in Bismarck, saying the Board has “failed to properly follow Congress’s instructions to ensure that debit-card processing fees are reasonable and proportional to the costs of debit-card transactions.”
