(Washington D.C.)- The National Restaurant Association issued the following statement regarding the U.S. Court of Appeal’s decision to uphold the Federal Reserve’s rule on capping debit swipe fees:
“We are disappointed in the outcome of today’s U.S Court of Appeal’s decision to largely uphold the Federal Reserve’s debit card interchange fee rule and network non-exclusivity rule. We are currently reviewing the opinion and exploring further legal options. The U.S. District Court’s original ruling appropriately took into account the concerns raised by small ticket merchants. Allowing higher fees on small-ticket bills was not the intent of Congress and an unintended consequence of the Federal Reserve’s flawed implementation of the law. We hope the Federal Reserve will exercise its existing authority to reconcile this failure and ensure the major card brands cannot continue to impose unreasonable debit card fees on the restaurant and foodservice industry to the detriment of thousands of businesses and ultimately our customers.”
Scott DeFife, Executive Vice President of Policy and Government Affairs, National Restaurant Association
Founded in 1919, the National Restaurant Association is the leading business association for the restaurant industry, which comprises 1 million restaurant and foodservice outlets and a workforce of 14 million employees. We represent the industry in Washington, D.C., and advocate on its behalf. We operate the industry's largest trade show (NRA Show May 16-19, 2015, in Chicago); leading food safety training and certification program (ServSafe); unique career-building high school program (the NRAEF's ProStart); as well as the Kids LiveWell program promoting healthful kids' menu options. For more information, visit Restaurant.org and find us on Twitter @WeRRestaurants, Facebook and YouTube.