Law360, New York (December 8, 2014, 4:15 PM EST) -- The government's argument in Perez v. Mortgage Bankers Association seemed to garner the support of a majority of U.S. Supreme Court justices during argument held on Dec. 1, but victory today (which seems almost certain) may well come at a hefty price tomorrow. In the near term, the court appears willing to abrogate a nearly 20-year-old D.C. Circuit precedent that discourages agency flip-flopping by requiring agencies making changes to definitive interpretations of rules to go through notice-and-comment rulemaking. Nevertheless, the longer-term ramifications for agencies defending against challenges to their decision-making appear more ominous, as it seems that a growing consensus on the Supreme Court realizes that deference to agency interpretations of their own rules may be, after awhile, too much of a good thing (for the agency that is)....
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