A federal appeals court Tuesday ordered the Federal Reserve Board to reconsider its approval of Electronic Payment Services Inc.'s purchase of an automated teller machine network in the Ohio Valley.

The U.S. Court of Appeals for the District of Columbia vacated the central bank's March 1, 1995, ruling, saying it did not adequately consider the competitive effects of Electronic Payment Systems' acquisition of an ATM network from National City Corp.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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