The Clearing House Association and the Bank Policy Institute requested leave to file a cross-motion for summary judgment and supporting materials in the case of Linney’s Pizza. v. Board of Governors of the Federal Reserve System, pending in federal court in Kentucky.  TCH and BPI had previously filed a motion to intervene in the case, which is still pending before the court.  The claims asserted in the case are nearly identical to those in Corner Post v. Board of Governors, which is pending in North Dakota District Court.  Linney’s Pizza, Kentucky merchant, filed the lawsuit to challenge the Federal Reserve Board’s 2011 adoption of Regulation II, which it alleges permits lenders and payment networks to charge higher debit card interchange fees than allowed by the statute (known as the Durbin Amendment).  TCH and BPI argue that the plaintiff’s reading of the statute is incorrect and that the court should enter judgment against it.

To read the court filings, click here.