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NFIB Celebrates Supreme Court Decision in Corner Post, Inc. v. Board of Governors of the Federal Reserve System

The National Federation of Independent Business (NFIB) is pleased with the recent U.S. Supreme Court ruling in Corner Post, Inc. v. Board of Governors of the Federal Reserve System. This case is significant as it addresses a crucial issue concerning the time frame within which business owners can challenge an agency rule under the Administrative Procedure Act (APA).

Small business owners often face challenges in dealing with government regulations, and NFIB’s Small Business legal Center Executive Director, Beth Milito, expressed the organization’s satisfaction with the Court’s decision. She emphasized the importance of not denying small business owners the right to challenge unreasonable regulations. Today’s ruling allows owners to challenge regulations as they see fit, providing them with a voice in regulatory matters that affect their businesses.

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Case Background: Corner Post, Inc. v. Board of Governors of the Federal Reserve System

Corner Post, Inc., a small business, brought a challenge against a regulation issued by the Board of Governors of the Federal Reserve System. The regulation imposed compliance requirements that Corner Post deemed burdensome for small businesses. The case revolved around the interpretation of when the statute of limitations for challenging an agency rule under the APA should commence. While the Federal Reserve argued that the statute of limitations should start from the publication of the rule, Corner Post asserted that it should begin when the business was established and subject to the regulation.

The Supreme Court’s ruling in this case clarifies the starting point for the statute of limitations, allowing businesses to challenge regulations within six years of being impacted by them, rather than from the date of publication of the rule. This decision is particularly beneficial for newly-formed businesses that were not in existence when the original rule was published but later found themselves affected by it.

The involvement of NFIB, alongside other organizations like the Restaurant Law Center, the Buckeye Institute, and the Manhattan Institute, highlights the collaborative efforts to support small businesses in legal matters. Through their amicus brief, these organizations advocated for a fair interpretation of the statute of limitations, ensuring that newly-formed businesses have a reasonable timeframe to challenge regulations once they become operational.

Implications for Small Business Owners

The Supreme Court’s ruling holds significant implications for small business owners, safeguarding their ability to challenge unreasonable regulations that may impose financial and operational burdens. By enabling challenges to be brought within six years of a business being subject to a rule, rather than from the rule’s publication date, the decision grants small businesses greater flexibility and protection in navigating regulatory requirements.

“Unreasonable government regulations are consistently a top issue for small business owners and today’s decision will allow owners to challenge them as they see fit,” Beth Milito stressed. This ruling acknowledges the practical challenges small businesses face and prevents them from being unfairly constrained by rigid legal timelines.

The NFIB Small Business legal Center remains dedicated to defending the rights of small business owners nationwide. With active involvement in numerous court cases, NFIB continues to advocate for a regulatory environment that fosters small business growth and innovation.

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