WASHINGTON, Oct. 12 (UPI) -- A bank based in Minnesota has filed a lawsuit challenging a debit card fee rule mandated by the Dodd-Frank financial reform bill as unconstitutional.
TCF National Bank filed a lawsuit in U.S. District Court in South Dakota challenging the bill that mandates the Federal Reserve set an interchange fee that is "reasonable" and "proportional" to the expense incurred by banks, The Hill newspaper reported Tuesday.