Supreme Court Allows Merchants To Challenge Debit-Card Swipe Fees Beyond Six-Year Statute
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
- U.S. Supreme Court Ruling: Merchants can challenge debt-card swipe fees beyond a six-year statute, impacting federal agency power.
- Court Decision Details: Justices voted 6-3, allowing a North Dakota store to sue over a 2011 rule despite the time limit due to its opening date in 2018.
- Impact of Rulings: Recent decisions could lead to more challenges against agency rules and potentially disrupt federal government operations.
- Background on Fed Rule: The ruling relates to a 2010 Dodd-Frank Act provision aiming to regulate swipe-fee rates as "reasonable and proportional."
- Market Reaction: Debit-card stocks and ETFs had mixed responses to the Supreme Court ruling, with some companies like Discover Financial Services rising while others like Nu Holdings Ltd. and CPI Card Group Inc. declining.
Analyst Views on IPO
Wall Street analysts forecast IPO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IPO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 47.340
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
