Injunctions Survive Appeal

The most likely path is that the second district court ruling reinforces the first, making it difficult for the administration to collect the $100,000 fee while appeals proceed. Courts are likely to focus on statutory authority, Administrative Procedure Act process issues, and the mismatch between visa-processing costs and a six-figure charge.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.