The Fed Will Appeal Court Decision on Durbin Rules

During a hearing last week, Federal Judge Richard Leon gave the Fed until today to decide whether it would appeal a decision earlier this month, which vacated current Durbin amendment rules.  General Counsel for the Fed Board, Scott Alvarez, stated today that it would seek an expidited appeal.  The judge ordered the parties to file pleadings by August 28, 2013, regarding the Fed Board's request for a stay of the court's decision.  ATMIA will continue to monitor this situation and its impact on EMV migration.