ANALYSIS: Four Post-Chevron Review Scenarios for Regulators

What, if not Chevron, will courts apply when reviewing bank regulators’ statutory interpretations?

As I and others have written, the Supreme Court will almost certainly ax its Chevron deference standard in the upcoming term when it hears Loper Bright Enterprises, et al. v. Raimondo. There are several paths the Supreme Court could take that lead away from the deference it granted in Chevron U.S.A., Inc. v. NRDC, Inc., which for decades has provided bank regulators with administrative autonomy.

All of the likely options outlined here weaken agency power, but they do so in different ways and ...