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.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.