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Orrick, Herrington & Sutcliffe LLP

Second Circuit sides with bank in FCRA case

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On May 28, the U.S. Court of Appeals for the Second Circuit affirmed a judgment issued by a district court judge in U.S. SDNY dismissing a plaintiff-appellant’s claims under the FCRA for allegedly failing to reasonably...more

Orrick, Herrington & Sutcliffe LLP

Wisconsin State Court of Appeals rules against bank and upholds state notice requirements in credit card debt case

Orrick, Herrington & Sutcliffe LLP on

Recently, the State Court of Appeals of Wisconsin decided an appeal concerning defaulted credit card accounts. The defendant-appellant, an individual who defaulted on two separate credit card accounts, contested the judgments...more

Ballard Spahr LLP

Plaintiffs file appeals with Second Circuit from district court decisions holding NBA preempts application of state usury law to...

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The plaintiffs in Cohen v. Capital One Funding, LLC and Petersen v. Chase Card Funding, LLC have filed appeals with the Second Circuit from the decisions of two New York federal district courts that held the National Bank Act...more

Goodwin

Financial Services Weekly Roundup: Madden Fix/Valid When Made Rule Faces New Challengers

Goodwin on

In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more

Ballard Spahr LLP

Second Circuit, on Truncated Record, Holds Dispute Implicating Core Bankruptcy Proceeding Non-Arbitrable

Ballard Spahr LLP on

In a recent decision pitting the Bankruptcy Code against the Federal Arbitration Act (FAA), the U.S. Court of Appeals for the Second Circuit held that a creditor could not compel arbitration of a debtor's class action claims...more

Morgan Lewis

Supreme Court Denies Certiorari Petition in Madden Case

Morgan Lewis on

Although it is reasonably unlikely that other circuit courts will follow the Second Circuit decision, it is uncertain whether application of the Madden case in the Second Circuit will be confined to its facts....more

Morgan Lewis

Update: Midland Funding v. Madden

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In an amicus curiae brief, the US Solicitor General recommends that the petition for certiorari in Madden be denied, but agrees that the Second Circuit’s decision is incorrect and emphasizes the importance of banks being able...more

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