The 21-year-old was caught on camera appearing to stamp on Wolves' Conor Coady – an incident not spotted by match referee David Coote – and received an automatic three-match ban.
The FA said in a statement: "The player accepted the FA charge but contested that the automatic penalty of a three-match suspension would be clearly excessive."
But after members of an independent regulatory commission viewed the incident on video, the FA upheld the punishment.
The England Under-21 international will miss his struggling side's matches against Reading on Tuesday, Fulham on Saturday and local rivals Birmingham City on October 30.
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