WASHINGTON — A group of retail trade associations and large retailers wants the Supreme Court to review the Federal Reserve Board's recent cap on debit card swipe fees that merchants say is higher than the fee limit envisioned in the Dodd-Frank Act.

Although a district court judge sided with retailers in a harshly worded ruling last year — that called on the Fed to go back to the drawing board — a three-judge federal appeals court panel in the District of Columbia overturned that decision in March and upheld the Fed's cap of roughly 24 cents per transaction.

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.