The State of Banking Regulation as the Next Supreme Court Term Begins

In June of this year, the Supreme Court overruled the “Chevron doctrine” in a case called Loper Bright Enterprises v. Raimondo. The 40-year-old Chevron doctrine held that reviewing courts must defer to agencies’ “reasonable interpretation” of ambiguous statutory provisions, even if the agency reached a different result than the court itself would have. In Loper Bright, the court declared that under the Administrative Procedure Act (APA), courts—not agencies—must resolve ambigui…