What the Supreme Court overturning the Chevron deference means for businesses

The Supreme Court of the United States has made a landmark decision to overturn the Chevron deference, a longstanding principle that required courts to defer to government agencies' interpretations of ambiguous laws rather than interpreting them independently. Brownstein shareholder and co-chair of financial services practice Leah Dempsey joins Catalysts to discuss the implications of this decision.

Dempsey explains that over time, conservatives have viewed Chevron deference as "a separation of powers issue." She notes that agencies initially tasked with interpreting "silent or ambiguous" laws began to see it as an opportunity to create "rules that may align with a certain political party."
Regarding the ramifications for the financial industry, Dempsey tells Yahoo Finance, "Dozens and dozens of new regulations have been coming out of the Biden Administration. Many have already been challenged in court and are in the process of litigation. But this will certainly give ammo to others that are looking to challenge new regulations." She also highlights that this ruling will impact regulatory clarity around emerging technologies such as AI.

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[JamesKFuku]

Wooo whooo power back to the people!!!

[tonystorcke]

This is a very interesting situation. Think about this let's say there is a certain medicine or perspective medicine that needs FDA approval let us say that medicine is not approved. Using this case but judge could simply override the decision of the FDA and approve the medicine. Is this really the type of government that we want in our modern age

[charliehorse]

This means WAY more litigation, and the already-overburdened courts will be even more busy.

[backcountyrpilot]

Hopefully this will roll-back the EPA, FCC, ATF and other out of control alphabet agencies!

[jamesalexander]

In other words it gives the power back to congress and not non elected officals.

[daytonwebster]

Does this mean I can delete my diesel now

[mikecook]

Good bye Clean Water Act. Along with Conservation, Labor laws, and many more.

[JasonFelton-rmrx]

It most definitely is a separations of power issue. The administrative branch has for a long time over reached it’s boundaries for example our court systems half our court systems are administrative judges, which means you’re going to jail for somebody or at the hands of somebody that didn’t have the authority to put you in jail and our court systems are actual judicial members have done nothing.

[cathiehutcheson]

It means that unqualified judges get to make rulings on what chemicals are dangerous, what pollution is allowed, what financial practices are legal, what drugs are safe to use; I’d rather have actual experts decide those things since the Roberts Court is taking bribes from rich corporations.

[mikehoncho]

Your advice has cost me $55, 000 never again

[Up]

That's awesome!! It's about time. And if they try is illegal. This is great thank you supreme Court!!! The Democrats are always sneaky

[CSGATI]

It has been abused and out of control. Good call.

[Puddlepiratesince]

Chevron Deference:
Scre₩ the political interest of companies over stepping Liberty with corrupt processes.

[dustin]

So do I have the freedom to burn tires?

[aaronreaka]

This not only helps the taxpayers in finance but across the board, medical, financial, and environmental!!
Basically it stops the regulators making decisions that benefit them instead fo the taxpayers

[xmanrgil]

Win for the people bad for the investors and politicians corruption osito corruption

[garldeenlinche]

What are these people getting it wrong on purpose