In a recent blog post, Peter Conti-Brown, a Professor of Financial Regulation at the Wharton School, discusses how a recent US Supreme Court decision may lead to many more lawsuits from banks challenging regulatory policy and action.
Historically, banks have avoided suing their regulators, opting instead for a collaborative approach to managing risk. However, banks and lobbyists now see an opportunity, Conti-Brown explains, with industry advocates encouraging more legal challenges. "[B]anks and their lobbyists smell chum in the water," he writes. “The question now for the Federal Reserve and its principals: what will you do in response to these new challenges?”
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