The National Retail Federation, Food Marketing Institute, National Association of Convenience Stores and retailers Boscov’s and Miller Oil today filed a lawsuit against the U.S. Federal Reserve, alleging the government agency failed to follow key requirements of a 2010 law when it adopted a flawed cap on consumer debit card swipe fees. The plaintiffs contend the failure of the Fed has allowed banks to continue charging “unjustifiably high swipe fees” and “discouraged price competition among credit card networks.”

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