WASHINGTON–The Supreme Court has agreed to hear a case that involves the statute of limitations and debit card processing fees.
The case, Corner Post v. Board of Governors of the Federal Reserve System, will involve deciding when the six-year statute of limitations to challenge an action by a federal
agency begins to run: Is it when the agency issues the rule, even if the plaintiff has not yet suffered any injury from the action; or is it instead when the plaintiff is actually injured?
“The question comes to the court in a case brought by a North Dakota truck stop that wants to contest a 2011 rule issued by the Federal Reserve that caps debit-card processing fees,” Scotusblog.com reported. “The truck stop, which argues that the Fed should lower the cap, contends that although the rule was issued in 2011, it did not open for business and process its first debit-card transaction – and therefore the statute of limitations did not begin to run – until 2018.”
A federal appeals court had earlier rejected that argument, prompting the truck stop to appeal to the Supreme Court, which has agreed to hear the case. The nation’s retailers, including the National Retail Federation, have been supportive of the truck stop in the case.
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