In the latest round in the Swipe Fee settlement case, a federal judge ruled this week that banks and credit card companies had charged “inappropriately” inflated fees for debit cards in retail transactions. In his ruling, Judge Richard Leon said the Fed set swipe fees that yielded “billions of dollars” more than Congress intended when it passed legislation to control those fees as part of the Dodd-Frank Wall Street Reform bill in 2010. The previously unregulated swipe fee averaged 44 cents. The Fed initially proposed a 12-cent cap but settled at double that amount. The Fed now must craft a new swipe rule. We’ll keep you informed.