Goa, Feb. 21 -- The U.S. Supreme Court engaged in deliberations on Tuesday regarding a North Dakota convenience store's challenge to a government regulation on debit card "swipe fees," a case that could potentially pave the way for businesses to contest longstanding federal rules more easily.

The crux of the arguments in the case revolved around whether the convenience store, named Corner Post and situated in Watford City, was within its rights to bring a lawsuit in 2021 challenging a 2011 Federal Reserve regulation governing the fees businesses pay to banks for debit card transactions. Lower courts dismissed the lawsuit citing the six-year statute of limitations typically applicable to such cases. However, Corner Post contended that it ...