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 19, we blogged about comments Acting Comptroller Hsu made before the Exchequer Club on July 17 particularly his decision to review prior OCC preemption determinations in light of the Supreme Court’s recent opinion in...more
On May 30, 2024, the U.S. Supreme Court held in a unanimous decision that the preemption standard codified in section 1044 (12 U.S.C. § 25b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) requires...more
Providers of consumer financial services that rely on federal preemption to charge customers uniform interest rates and fees on a nationwide basis are currently facing a series of legislative and litigation challenges. In...more