Supreme Court Refuses to Hear Retailers’ Complaints About Debit Card Swipe Fees

More than four years after the Dodd-Frank banking reforms directed the Federal Reserve to set a standard for swipe fees — i.e., the money charged to retailers by banks for each debit card transaction — the hotly debated issue appears to have hit a dead end with the U.S. Supreme Court deciding yesterday to not hear an appeal from retailers who contend the Fed set the fees too high.