Document ID: ./input/supremecourt_opinions/opinions/23pdf/22-1008_1b82.pdf
Page Number: 49.0

Cite as:  603 U. S. ____ (2024) 

3 

JACKSON, J., dissenting 

2011, the Board issued Regulation II, capping debit-card in-
terchange fees at 21 cents per transaction plus 0.05 percent 
of the transaction.  76 Fed. Reg. 43420 (2011) (codified at 
12 CFR §253.3(b) (2022)).

As  often  happens,  affected  parties  challenged  Regula-
tion II almost immediately after the Board issued it  Sev-
eral large trade groups sued under the APA, alleging that 
Regulation II was, in several respects, arbitrary, capricious, 
and not in accordance with law.  NACS v. Board of Gover-
nors  of  FRS,  958  F.  Supp.  2d  85,  95–96  (DC  2013).  Ulti-
mately, the D. C. Circuit rejected that challenge in relevant 
part.  NACS v. Board of Governors of FRS, 746 F. 3d 474, 
477 (2014).  And, a few months after that, we denied certi-
orari.  See 574 U. S. 1121 (2015). 

B 
Now consider the facts of this challenge.  In the majority’s
telling,  this  is  about  a  single  “truckstop  and  convenience 
store located in Watford City, North Dakota.”  Ante, at 1. 

Not quite.  Rather, two large trade groups initially filed 
this action in 2021—a full decade after the Federal Reserve 
Board  finalized  the  debit-card-fee  regulations  at  issue.
Those groups were the North Dakota Petroleum Marketers 
Association, a “trade association that has existed since the 
mid-1950s,” and the North Dakota Retail Association, an-
other trade group.  App. to Pet. for Cert. 53.  Corner Post, 
which had only opened its doors in 2018, was not a party to 
the trade groups’ initial complaint.  The Government moved 
to dismiss the pleading, invoking §2401(a)’s 6-year statute 
of limitations.  In response, the trade groups sought leave 
to amend. 

It was only then that Corner Post was added as a plain-
tiff.  And,  importantly,  other  than  the  addition  of  Corner 
Post,  the  trade  groups’  complaint  remained  practically
identical to the untimely one they had filed before.  Other 
than a few changes of phrasing and some newly available