Supreme Court decision bolsters federal regulators' power to interpret and change regulations -- without formal notice

Court ruled that the notice-and-comment procedure doesn't always apply to rule changes

Even as the Consumer Financial Protection Bureau (CFPB) is under fire for overstepping its authority to regulate the financial services industry, the bureau and other federal regulators received more muscle this week from a U.S. Supreme Court decision that grants federal agencies the power to issue interpretive rules about regulations without first making them public or following formal legislative rulemaking processes.