JD Supra, July 16, 2024, Chevron Is History. Implications For The 2023 Community Reinvestment Act Regulations
When the Supreme Court decided in favor of the plaintiff in Loper Bright Enterprises et al vs. Gina Raimondo it overruled its decision in Chevron v. Natural Resources Defense Council, the so-called “Chevron Decision” which has been in effect for more than 40 years and has deferred authority to federal bureaucrats regarding a federal agency’s interpretation of law when the statute is ambiguous. Chevron made it very difficult to successfully challenge an agency’s questionable application of a federal regulation and consequently vested incredible power in the federal bureaucracy. Effectively, it helped expand the federal administrative state.
