The U.S. Army Corps of Engineers administers the only nationwide regulatory program that controls development activities in U.S. waters and wetlands. This article examines the statutory authorities, jurisdictional limitations, and evolution of the current Corps regulations, which express a strong policy to protect wetlands, estuaries, and tidal waters from unnecessary dredging, filling, or other alteration. The article explains the organization and procedures of the U.S. Army Corps of Engineers and examines in detail several precedential permit cases which have developed and implemented the Corps “wetlands policy.”; The article also evaluates current and potential policies underlying the regulatory efforts of the Corps of Engineers.