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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

McGlinchey Stafford

FDIC Issues Final Rule Codifying Valid When Made Doctrine

McGlinchey Stafford on

At long last, the FDIC has issued its final rule codifying the “valid when made” doctrine. The rule was finalized on June 25, 2020, and clarifies that the interest rate lawfully assessed by an originating depository...more

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