Content about US Federal Reserve

March 21, 2014

The U.S. Appeals Court for the District of Columbia on Friday overturned a lower court's decision in July that favored the merchants and was a setback for banks.

Washington, D.C. -- The U.S. Appeals Court for the District of Columbia on Friday overturned a lower court's decision in July that favored the merchants and was a setback for banks. The National Retail Federation expressed disappointment with the decision, which will keep the Federal Reserve’s cap on debit card swipe fees at 21 cents rather than reducing it to a lower level.

January 17, 2014

The National Retail Federation (NRF) has asked an appeals court to uphold a judge’s ruling that the Federal Reserve set its cap on debit card swipe fees far higher than intended by Congress and that the cap needs to be recalculated at a lower level.

Washington, D.C. - The National Retail Federation (NRF) has asked an appeals court to uphold a judge’s ruling that the Federal Reserve set its cap on debit card swipe fees far higher than intended by Congress and that the cap needs to be recalculated at a lower level.

August 21, 2013

The National Retail Federation issued the following statement from VP for government affairs public relations J. Craig Shearman in reaction to the Federal Reserve’s announcement Wednesday that it will appeal a U.S. District Court judge’s ruling that the cap it set on debit card swipe fees in 2011 was too high.

Washington, D.C. -- The National Retail Federation issued the following statement from VP for government affairs public relations J. Craig Shearman in reaction to the Federal Reserve’s announcement Wednesday that it will appeal a U.S. District Court judge’s ruling that the cap it set on debit card swipe fees in 2011 was too high.

July 31, 2013

The National Retail Federation, Food Marketing Institute and Retail Industry Leaders Association (RILA) both issued statements applauding the ruling on the Federal Reserve Swipe Fee Regulation.

Washington, D.C. -- The National Retail Federation, Food Marketing Institute and Retail Industry Leaders Association (RILA) both issued statements applauding the ruling on the Federal Reserve Swipe Fee Regulation. The groups were responding to a U.S. District Court ruling on Wednesday that the implementation rules for debit swipe fee reform established by the Federal Reserve were inconsistent with the intent of the law.

April 17, 2012

Recovery is a relative term when applied to retail real estate. It’s taken a couple of years of determined optimism, but most in the industry have now reconciled themselves to the realities of the new world order. A world where capital is cautiously invested and most retailers, even those that are opening new stores, have flattened growth rates. Gone are the days of expansive, unrestrained development — replaced instead by measured, deliberate decisions and a renewed focus on redevelopment, relocation and re-evaluation of portfolios.

November 23, 2011

A coalition of retail organizations, including the National Retail Federation, the Food Marketing Institute and the National Association of Convenience Stores, have filed a lawsuit charging that the Federal Reserve failed to comply with a new law requiring it to reduce fees bank charge retailers when shoppers use credit cards.

New York City -- A coalition of retail organizations, including the National Retail Federation, the Food Marketing Institute and the National Association of Convenience Stores, have filed a lawsuit charging that the Federal Reserve failed to comply with a new law requiring it to reduce fees bank charge retailers when shoppers use credit cards.

The law, which went into effect Oct. 1, said that banks could charge a maximum of 21 cents when consumers use a debit card, down from an average of 44 cents per transaction.

September 30, 2011

Retailers and their customers will save billions of dollars when new Federal Reserve regulations cutting debit-card swipe fees roughly in half take effect this weekend, the National Retail Federation said.

Washington, D.C. -- Retailers and their customers will save billions of dollars when new Federal Reserve regulations cutting debit-card swipe fees roughly in half take effect this weekend, the National Retail Federation said.

September 1, 2011

Terry Lundgren, CEO of Macy’s, has been appointed to the Federal Reserve Bank of New York board of directors.

New York City -- Terry Lundgren, CEO of Macy’s, has been appointed to the Federal Reserve Bank of New York board of directors.

Lundgren was appointed a class B director starting Aug. 31 for the unexpired porting of a three-year term ending Dec. 11, serving the remainder of GE CEO Jeffrey Immelt’s CEO term.
 

July 6, 2011

By Mark Gibson, global marketing manager, Galleria

June 30, 2011

The National Retail Federation said Thursday that it is disappointed in the final debit card swipe-fee regulations set by the Federal Reserve.

Washington, D.C. -- The National Retail Federation said Thursday that it is disappointed in the final debit card swipe-fee regulations set by the Federal Reserve.

Under the new rule, the current debit card swipe-fee rate of 1%-2% of each transaction will be replaced with a flat fee of not more than 21 cents per transaction for the nation’s largest banks -- substantially higher than the flat fee of up to 12 cents the Fed originally proposed in December 2010.

February 8, 2011

A report released Tuesday by the Federal Reserve said that U.S. consumer borrowing rose in December for a third consecutive month, led by the first increase in credit-card charges in more than two years as holiday sales improved.

Washington, D.C. -- A report released Tuesday by the Federal Reserve said that U.S. consumer borrowing rose in December for a third consecutive month, led by the first increase in credit-card charges in more than two years as holiday sales improved.

December 16, 2010

The Retail Industry Leaders Association said Thursday that the Federal Reserve’s proposed rule on swipe reform is a step in the right direction.

Arlington, Va. -- The Retail Industry Leaders Association said Thursday that the Federal Reserve’s proposed rule on swipe reform is a step in the right direction.

“Although Federal Reserve’s proposal is not entirely conclusive, it does validate the long-held claims of merchants and consumers that the electronic payments market is broken and needs to be fixed,” said Katherine Lugar, RILA executive VP for public affairs.

June 14, 2010

The National Retail Federation is continuing its rallying cry to make sure an amendment requiring...

October 4, 2007

Washington, D.C., Confidence...

March 3, 2005

New York City, ...