How a North Dakota Truck Stop Brought the Federal Reserve and the Administrative State to Heel
This case has taken 13 years to conclude. Billions of dollars were lost to consumers in what will ultimately be seen as excess fees
Monday, the Supreme Court handed down a 6-3 decision in which a small North Dakota truck stop prevailed over the Federal Reserve System that may do as much to dismantle the Administrative State as did the pair of
decisions that sent "Chevron deference" to the boneyard of bad ideas (see BREAKING: Supreme Court Issues Monumental Ruling on Chevron Deference – RedState). The case is called Corner Post v. Board of Governors, Federal Reserve, and it involves the exciting and sexy subject of swipe fees charged for credit and debit card transactions. ---More...
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