A North Dakota business is fighting once again against high debit card fees in federal court.
As the North Dakota Monitor first reported, The Corner Post, a truck stop near Watford City, says banks and debit card companies are continuing to charge fees that well exceed the actual cost of transactions those fees are supposed to reimburse.
Lawyers for The Corner Post argue that those high fees are a violation of federal law, specifically the Durbin Amendment in the 2010 Wall Street Reform and Consumer Protection Act that was passed in Congress after the financial crisis. That law says fees must be reasonable and proportional to the actual cost of processing.
The plaintiffs say want a judge to declare force the board that oversees implementation of those laws to rewrite regulations and enforce the standard most strictly.
Lawyers for the Bank Policy Institute dispute that, and say fees should actually be higher.
The case is being heard in the District Court for North Dakota by Judge Daniel Traynor.
Traynor previously dismissed the case in 2022 on statute of limitations grounds, but the U.S. Supreme Court overruled that, saying The Corner Post didn’t open until 2018 and the harm they claim happened within the statue of limitations, and sent the case back to District Court.
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