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Orrick, Herrington & Sutcliffe LLP

Ninth Circuit sides with credit union after finding NCUA regulations preempted California state law

Orrick, Herrington & Sutcliffe LLP on

On August 1, the U.S. Court of Appeals for the 9th Circuit affirmed the dismissal of claims under California’s Unfair Competition Law (UCL) against a federal credit union, holding that federal law preempts state regulation of...more

Orrick, Herrington & Sutcliffe LLP

FDIC proposes return to dedicated Office of Supervisory Appeals

Orrick, Herrington & Sutcliffe LLP on

On July 15, the FDIC Board approved a proposal to amend the FDIC’s Guidelines for Appeals of Material Supervisory Determinations by replacing the existing Supervision Appeals Review Committee with an independent office within...more

Moore & Van Allen PLLC

CFPB Announces It Will Not Prioritize Enforcement And Supervision Of Its Small Business Lending Data Collection Rule Under The...

Moore & Van Allen PLLC on

On May 1, the Consumer Financial Protection Bureau (CFPB) announced that it will not prioritize enforcement or supervision of its small business lending data collection rule (the “Rule”) implementing the requirements of...more

Sheppard Mullin Richter & Hampton LLP

Fourth Circuit Rejects Rehearing in ACH Fraud Suit Alleging Violations of KYC Rules and NACHA Operating Standards

Sheppard Mullin Richter & Hampton LLP on

On April 22, the Fourth Circuit declined to reconsider a panel ruling that found a credit union could not be held liable for a scam in which fraudsters diverted over $560,000 from a metal fabricator through unauthorized ACH...more

A&O Shearman

Permission to appeal granted against Financial Ombudsman Service decision concerning motor finance discretionary commission...

A&O Shearman on

Barclays Partner Finance has been granted permission to appeal against the Administrative Court's judgment in R (Clydesdale Financial Services Ltd) v Financial Ombudsman Service Ltd [2024] EWHC 3237 (Admin)...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

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