Bank Stationers Association, Inc. v. Board of Governors of the Federal Reserve System

GODBOLD, Chief Judge:

I

Automated clearinghouse (ACH) services transfer money between banks and other institutions by computer, thus eliminating the need for paper checks. Bank Stationers Association, 1 printers of personalized checks, brought suit under the Administrative Procedure Act, 5 U.S.C. § 701 et seq., to enjoin the Federal Reserve Board from charging fees for ACH services that are insufficient to cover the cost of providing such services. They allege that below cost fees violate § 107 of the Monetary Control Act of 1980, 12 U.S.C. § 248a (Supp. IV 1980). 2 The district court dismissed…