Ben Olson Quoted in Law360 Article, "Fed Win On Swipe Fees Is Pyrrhic Victory For Banks"Benjamin K. Olson
Ben Olson was quoted in Evan Weinberger's Law360 article, "Fed Win On Swipe Fees Is Pyrrhic Victory For Banks," on March 21, 2014.
And if the Supreme Court were to rule in favor of the Fed, should the case get that far, banks may face an environment where courts give wider latitude to regulatory agencies as they try to make rules out of vague legislation, said Benjamin K. Olson, counsel at Buckley Sandler LLP.
Which is why Friday's victory could in the long-run turn into a loss for banks, and not just because of the loss of fee revenue, he said.
“It is the lesser of two evils, but there's a hidden evil here for industry that may not be apparent to them at the outset,” Olson said.