A pair of motions for summary judgment in a federal case seeking to overturn the US Labor Department’s sustainable 401(k) investing rule clash over the significance of past regulator actions in a post-Chevron environment.
The DOL’s Employee Benefits Security Administration and 25 red state attorneys general suing the agency embraced in briefs submitted Oct. 16 different elements of the US Supreme Court’s landmark June ruling in Loper Bright Enterprises v. Raimondo, which overturned the Chevron doctrine of deferring to reasonable agency interpretations where laws are ambiguous or silent.
Arguments over the agency’s ESG investing standards have been whittled ...