Trump v. Cook · ¶105
The original Federal Reserve Act gave the Board a wide range of powers that this Court has held to be executive. See Trump v. Slaughter, 609 U. S. ＿＿＿, ＿＿＿ (2026); Seila Law LLC v. Consumer Financial Protection Bureau, 591 U. S. 197, 218–219 (2020). The Act granted the Board the power to, among other things, impose “rules and regulations” on ordinary commercial banks, §9, 38 Stat. 259; “examine at its discretion” the papers and effects of reserve banks and national banks, §11(a), id., at 261; regulate national banks in establishing foreign branches, §25, id., at 273–274; set rates to be charged by reserve banks, §14(d), id., at 265; fix “by rule” national bank check-clearing charges, §16, id., at 266–268; and impose penalties on national banks, §19(c), id., at 270–271. Over the years, Congress has given the Board more powers, including the power to issue fines of $1 million per day on…Read in context ›
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