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2007 Alumna is Co-Counsel in Successful Action against the Federal Reserve

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Linda Bailey, a 2007 summa cum laude graduate of Catholic University’s law school and an associate in the Washington, D.C. office of Steptoe and Johnson, served as co-lead counsel in a major case ruling that may eventually reduce debit-card transaction fees for consumers nationwide.
 
The case litigated by Bailey and her colleague on behalf of retailers and retail trade associations resulted in a July 31 ruling by a federal judge that struck down federal regulations on debit-card transaction fees, finding that the Federal Reserve adopted rules that "inappropriately" inflated fees by billions of dollars.
 
In essence, the ruling found that the Fed ignored or misinterpreted the express intent of Congress when it set rules regulating debit-transaction fees in 2011.
 
An article describing the case and its implications for consumers was originally published in The National Law Journal and was reprinted in Corporate Counsel on Aug. 1st.