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TCH Opposes Durbin Amendment’s Imposition of Price Controls on Debit Card Interchange Fees

The Clearing House Association led a coalition of every major bank and credit union trade association in the U.S., in filing an amicus brief with the 8th Circuit Court of Appeals supporting an appeal taken by TCF National Bank from the District Court's denial of TCF's motion for a preliminary injunction. The issue on appeal is whether TCF National Bank's constitutional challenge to the regulation of debit card interchange fees must be analyzed under the confiscatory-rate doctrine, as TCF argues, or instead, under only the deferential rational-basis standard as the District Court concluded. On May 19, 2011 the Government filed its brief in the appeal taken by TCF National Bank to the 8th Circuit. TCF seeks to have the 8th Circuit overturn the district court’s denial of TCF's motion for a preliminary injunction.