Judicial Action
Corner Post, Inc. v. Board of Governors of the Federal Reserve System (2024) - Statute of Limitations
Description
The U.S. Supreme Court ruled that under the Administrative Procedure Act (APA), a plaintiff has six years to challenge a regulation. Although the APA is silent on when the statute of limitations begins, the Court determined it starts when the plaintiff suffers injury from the regulation, not when the regulation was finalized. This means that regulations finalized long ago can still be challenged if the injury occurred within six years of filing.
Actions to Take
This ruling clarifies that individuals can challenge a regulation within six years of experiencing an injury caused by it. Institutions should note that the timeframe for challenging federal regulations is not tied to the date the regulation was finalized.
Ruling Date
July 1, 2024