In NCLA Amicus Win, Supreme Court Upholds Small Business's Right to Judicial Review

The Board of Governors of the Federal Reserve System (the Fed) adopted Regulation II in 2011, establishing fees for debit-card transactions. Corner Post began operating in 2018 and filed its lawsuit challenging Regulation II in 2021, claiming it had incurred excessive interchange fees under the rule. The U.S. Court of Appeals for the Eighth Circuit ruled that Corner Post's opportunity to file suit had expired in 2017, six years after the rule first issued. "Because an APA plaintiff may not file suit and obt ...