"You're wasting your time," Judge Harry Edwards told a lawyer for the retailers, dismissing a key argument the merchants have made in their attempt to overturn the Fed's cap on debit interchange fees.

Appeals Court Signals Support for Fed in Interchange Suit

Judges for an appeals court appeared sympathetic Friday to the Federal Reserve Board's defense of its rule capping interchange fees on debit cards, fueling hopes by bankers that the agency will beat back a legal challenge.

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