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NerdWallet's Smart Money Podcast

Financial, Crypto Oversight On the Ropes After Supreme Court Overturns a 40-Year Precedent

Jul 31, 2024
Join Sam Taube, a NerdWallet investment writer, as he dives into the recent Supreme Court ruling that dismantles the Chevron deference, altering financial and crypto regulations. Discover how this seismic change could trigger deregulation in various sectors, including implications for investor protections and federal authority. Gain insights into the Federal Reserve’s latest interest rate decisions, gig worker rights in California, and the new assigned seating policy from Southwest Airlines, all while navigating the shifting landscape of money management.
15:59

Episode guests

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Quick takeaways

  • The Supreme Court's decision to overturn the Chevron deference could significantly weaken federal regulatory powers across various sectors, including finance.
  • Deregulation in the cryptocurrency sector may lead to increased market activity but also risks diminished investor protections and potential fraud.

Deep dives

Impact of the Loper Decision on Federal Regulations

The recent Supreme Court decision in Loper-Bright Enterprises v. Raimondo has significant implications for federal regulatory powers, overturning the Chevron deference that allowed agencies to interpret laws with considerable discretion. The case stemmed from challenges by New Jersey herring fishers against regulations requiring them to cover the costs of onboard observers mandated by the National Marine Fisheries Service. The ruling not only weakens the enforcement capabilities of various federal agencies but also raises questions about the legality of many existing regulations in sectors such as healthcare, environment, and finance. Experts believe that this change will create a ripple effect, prompting businesses and investors to reassess compliance and legal frameworks across multiple industries.

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