Financial Industry Coalition Files Amicus Brief in Retailers’ Lawsuit Against Federal Reserve

“The merchants have claimed all along that imposing government price controls on interchange fees would directly benefit consumers, yet there is absolutely no evidence that they have lowered their prices,” said coalition spokeswoman Trish Wexler. “So while consumers have gotten nothing from the retailers, the merchants are back asking the courts to add even more to the $6 billion windfall they are now enjoying.”