In a move that is anticipated to have far-reaching implications for federal regulatory agencies, the American Bar Association (ABA) recently released a recording of a live program on the Supreme Court’s revisiting of the Chevron judicial deference framework. The announcement was shared via JDSupra.
The program titled, “U.S. Supreme Court to Revisit Chevron Deference: What the SCOTUS Decision Could Mean for CFPB, Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC) and Federal Banking Agency Regulations,” took center stage in the ABA Business Law Section 2023 Fall Meeting held in Chicago. Well-known legal professionals were present at the program, including Prof. Jonathan S. Masur from the University of Chicago Law School and legal expert Lauren Campisi from Hinshaw & Culbertson.
The Chevron deference is a long-standing principle of administrative law that compels courts to defer to a federal agency’s interpretation of unclear or ambiguous laws that the agency administers. Should the Supreme Court decide to change this principle, it will significantly alter the balance of power between courts and administrative agencies.
This could particularly impact the operations of the FTC, CFPB, and various federal banking agencies. All these agencies frequently interpret ambiguities in the rules they’re tasked to administer, hence the legal fraternity keenly waits for the Supreme Court’s interpretation.
The ABA’s decision to release the recording is particularly timely given the significance of this issue and the potential widespread implications of the Supreme Court’s decision.