An impending U.S. Supreme Court ruling that could curb the regulatory powers of federal agencies may play a critical role in a challenge by Republican-led states to a rule issued by President Joe Biden’s administration allowing socially conscious investing by employee retirement plans, according to a new court filing. The 26 states, led by Utah and Texas, asked a U.S. appeals court late on Thursday to wait to decide whether to block the U.S. Department of Labor rule until the Supreme Court issues its decision on agency powers, expected by the end of June.
About the Author
