Supreme Court rejects retailers' gripes on debit-card fees

Reuters reports:

The U.S. Supreme Court on Tuesday declined to hear a challenge to controversial debit card "swipe fee" rules, dealing a blow to retailers, grocers and restaurant owners who argued the charges were unfairly high.

Businesses pay the fees to banks when customers use debit cards to purchase goods or services. The fees reimburse banks for costs involved in offering debit cards.

The high court's refusal to hear the case keeps intact a March 2014 ruling by the U.S. Court of Appeals for the District of Columbia Circuit that found the fees set by the Federal Reserve at 21 cents per transaction were appropriate.

The banksters win again.