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Opt-Outs Credit Unions

McGlinchey Stafford

Minnesota, Nevada, and Rhode Island Propose DIDMCA Opt-Outs

McGlinchey Stafford on

Minnesota, Nevada, and Rhode Island are the most recent additions to the list of jurisdictions that have proposed legislation to opt out of the Depository Institutions Deregulation and Monetary Control Act (DIDMCA). Sections...more

Ballard Spahr LLP

Opt-out challenge case assigned to Colorado federal Judge Daniel D. Domenico

Ballard Spahr LLP on

As we previously reported, on March 25, 2024, three consumer financial services industry trade groups filed a lawsuit in federal district court in Colorado challenging legislation recently adopted to opt out of rate...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

Lewis Roca

Legal Issues, Problems, and Unanswered Questions Regarding a State’s Ability and Potential Departure from the Depository...

Lewis Roca on

In 1980, Congress passed Public Law 96-221, called the Depository Institutions Deregulation and Monetary Control Act (“DIDMCA”), which, in part, allowed federally insured state banks, state credit unions, and state savings...more

Amundsen Davis LLC

Silence is Not Always Golden: Land v. IU Credit Union

Amundsen Davis LLC on

The spate of class-actionGavel with Cash lawsuits against banks and credit unions (“Financial Institutions”) involving overdraft fees has prompted Indiana Financial Institutions to amend their existing account agreements to...more

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