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Federal Deposit Insurance Corporation › State and Local Government › Loans

The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain... more +
The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships.  less -
Sheppard Mullin Richter & Hampton LLP

FDIC Withdraws Support for Colorado’s Opt-Out Law Before Tenth Circuit

Sheppard Mullin Richter & Hampton LLP on

On February 26, the FDIC withdrew its amicus brief in the 10th Circuit Court of Appeals challenging Colorado’s 2023 opt-out law which aimed to restricting higher-cost online lending. The FDIC’s decision follows a shift in the...more

Womble Bond Dickinson

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

Womble Bond Dickinson 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

Buchalter

OCC and FDIC “Valid When Made” Rule Reaffirmed: Interest Rate Limitations, or Lack Thereof, on Loans Made By National and State...

Buchalter on

Under the long-recognized valid when made doctrine, if a loan was not subject to a state usury law when it was made, it does not subsequently become even if it is subsequently sold or assigned to another party. The doctrine...more

McGlinchey Stafford

Another “unfathomable” decision: Colorado loans not valid when made

McGlinchey Stafford on

On June 9, 2020, the Colorado District Court issued an order stating that federal interest rate exportation authority under Section 27 of the Federal Depository Insurance Act does not extend to non-bank entities that purchase...more

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