Capital Briefs: Banks' Credit Card Fee Argument Weakened

The federal appeals court in Philadelphia has made it more difficult for the banking industry to win a Supreme Court battle over credit card fees.

The U.S. Court of Appeals for the Third Circuit vacated its Dec. 29 decision in Spellman v. Meridian Bank. Meridian had won the case, successfully arguing that states cannot regulate fees charged by out-of- state banks.

The court's Feb. 16 order - which offered no explanation for the decision - means lawyers for the banking industry cannot cite the case during arguments before the U.S. Supreme Court later this spring in a similar case.

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