Consumer Finance Monitor Podcast Episode: The Cantero Opinion: The Supreme Court Leaves National Bank Preemption in Limbo
Consumer Finance Monitor Podcast Episode: Interest Rate Exportation Under Attack Part II
In That Case: Cantero v. Bank of America
Consumer Finance Monitor Podcast Episode: Interest Rate Exportation Under Attack Part I
Consumer Finance Monitor Podcast Episode: The U.S. Supreme Court’s Pending Ruling on National Bank Preemption: A Discussion of Cantero v. Bank of America, N.A.
Consumer Finance Monitor Podcast Episode: What the Recent Developments in Federal Preemption for National and State Banks Mean for Bank and Nonbank Consumer Financial Services Providers
On July 17, Acting Comptroller of the Currency Michael Hsu delivered prepared remarks before the Exchequer Club entitled “Size, Complexity, and Polarization in Banking.”...more
The Litigation Byte is the new name and format for McGlinchey’s Commercial Law Bulletin. Our new format reflects McGlinchey’s national coverage and our expanded footprint while still serving up the digestible, insightful...more
The parties in Madden v. Midland Funding, LLC. have filed a joint motion with the New York federal district court seeking preliminary approval of a class settlement....more
Happy New Year! While we acknowledge that it’s nearly summer now, this issue of Roundup includes case highlights from the first quarter of 2017. The year kicked off with more activity than the last quarter of 2016, with cases...more
A careful parsing of state laws should be done if a lender is relying on a choice of law to avoid states that have criminal usury statutes. On February 27, the U.S. District Court for the Southern District of New York...more
On February 27, 2017, the U.S. District Court for the Southern District of New York in part denied a renewed motion by Midland Funding, LLC (“Midland”) to dispose of claims brought by Saliha Madden (“Madden”) under the Fair...more
On June 27, the United States Supreme Court declined to review the Second Circuit’s decision in Madden v. Midland Funding, LLC, 786 F.3d 246 (2d Cir. 2015). By denying Midland Funding, LLC’s petition for a writ of...more
The U.S. Supreme Court has denied certiorari to review the decision of the U.S. Court of Appeals for the Second Circuit in Madden v. Midland Funding, LLC. As previously reported, Madden involved a putative class action...more
Third party debt buyers may face increased threat of state-law class action lawsuits after a recent Second Circuit ruling prohibiting such debt buyers from invoking federal preemption defenses under the National Bank Act to...more
Marketplace lenders and investors that purchase interests in loans originated by banks should pay close attention as it could spawn a host of class action lawsuits if left standing. In a controversial opinion decided on...more
The U.S. Court of Appeals for the Second Circuit ruled last week that a purchaser of charged-off debts from a national bank was not entitled to assert the preemption of state usury laws available to national banks under...more
Bank Can Be Liable Under California Law for Overdraft Fee Charge Ordering - A checking account that includes a debit card feature is a “service” under California’s Consumer Legal Remedies Act, according to a new...more