Daily Coffee
Federal Court Upholds Debit Interchange Fee Caps. A federal district court in Kentucky has dismissed a lawsuit seeking to vacate the Federal current debit interchange caps in Regulation II — to 21 cents plus 0.05% per transaction since 2011. The court held that the Federal Reserve’s regulation was not contrary to law and complied with the Durbin Amendment to the Dodd–Frank Act. Last month, a federal district court in North Dakota reached the opposite conclusion, finding that the Federal Reserve exceeded its authority by allowing debit card interchange fees to incorporate the recovery of fraud prevention and other costs. Read the order and a related article.
September 15, 2025
President Signs Law to Combat the Sale of Trigger Leads. President Trump has signed the Homebuyers Privacy Protection Act (Public Law 119-36) into law, which limits when credit reporting agencies can share residential mortgage loan applicants’ personal information (known as “trigger leads”). The law prohibits credit reporting agencies from providing consumer credit reports to third parties in connection with residential mortgage transactions unless the consumer has consented or the consumer is a customer of the third party. View Public Law 119-36 and a related article.
September 12, 2025
More Compliance News