News & Analysis as of

DIDMCA Interest Rates Preemption

Ballard Spahr LLP

Oh, won’t you stay (enforcement): Plaintiffs seek preliminary injunction in Colorado interest rate preemption opt-out challenge

Ballard Spahr LLP on

Colorado’s attempt to opt out of interest rate exportation by out-of-state, state-chartered banks ultimately will fail, and will cause irreparable harm in the interim: therefore, enforcement of the opt out should be...more

Troutman Pepper

Trade Organizations Challenge Colorado’s DIDMCA Opt-Out Legislation in Federal Court

Troutman Pepper on

Monday, three trade organizations filed a complaint in Colorado federal court challenging H.B. 1229, Colorado’s effort to limit interest charges by out-of-state financial institutions, which is set to take effect on July 1,...more

Ballard Spahr LLP

Colorado interest rate preemption opt-out challenged in federal court

Ballard Spahr LLP on

On March 25, 2024, three consumer financial services industry trade groups filed a lawsuit asking the federal district court in Colorado to strike down recent Colorado legislation purporting to opt out of a federal law that...more

Ballard Spahr LLP

More States Mull Interest Rate Preemption and “Anti-Evasion” Legislation

Ballard Spahr LLP on

Rhode Island, Minnesota, and Nevada have joined the list of jurisdictions considering proposals to legislatively opt out of federal interest rate preemption established under the federal Depository Institutions Deregulation...more

Hudson Cook, LLP

What's Old is New Again: The Future of Bank Partnership Programs from Small Dollar Installment Loans to Mortgages to Everything

Hudson Cook, LLP on

Bank partnerships allow banks to offer loans to consumers and businesses by leveraging the resources of non-bank entities. The relationships between banks and their non-bank entity partners have existed for many years. In the...more

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