Consumer Finance Monitor Podcast Episode: Private Civil Consumer Financial Services Litigation to Partially Fill CFPB Void - Part 2
Consumer Finance Monitor Podcast Episode: The Cantero Opinion: The Supreme Court Leaves National Bank Preemption in Limbo
Consumer Finance Monitor Podcast Episode: Interest Rate Exportation Under Attack Part II
In That Case: Cantero v. Bank of America
Consumer Finance Monitor Podcast Episode: Interest Rate Exportation Under Attack Part I
Consumer Finance Monitor Podcast Episode: The U.S. Supreme Court’s Pending Ruling on National Bank Preemption: A Discussion of Cantero v. Bank of America, N.A.
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
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
In a significant ruling on February 18, 2025, the Wisconsin Court of Appeals determined that National Bank Act (NBA) does not preempt the procedural “right to cure” notice requirements mandated by the Wisconsin Consumer Act...more
The Litigation Byte is the new name and format for McGlinchey’s Commercial Law Bulletin. Our new format reflects McGlinchey’s national coverage and our expanded footprint while still serving up the digestible, insightful...more
On February 27, the U.S. Court of Appeals for the Ninth Circuit affirmed a district court’s decision to abstain from enjoining a state action brought by a California county district attorney (DA) against a national bank,...more
The Office of the Comptroller of the Currency (OCC) issued a final rule on May 29 clarifying that when a national bank or national savings association sells, assigns, or otherwise transfers a loan, interest permissible before...more
On June 2, 2020, the Office of the Comptroller of the Currency (the “OCC”) published its final rule (the “Rule”), clarifying that an assignee of a national bank has the right to collect interest at the same rate as the...more
The parties in Madden v. Midland Funding, LLC. have filed a joint motion with the New York federal district court seeking preliminary approval of a class settlement....more
Democratic Senator Mark Warner has introduced a bill, S.1642, that would override the Second Circuit’s decision in Madden v. Midland Funding. (In Madden, the Second Circuit ruled that a nonbank that purchases loans from a...more
A careful parsing of state laws should be done if a lender is relying on a choice of law to avoid states that have criminal usury statutes. On February 27, the U.S. District Court for the Southern District of New York...more
On February 27, 2017, the U.S. District Court for the Southern District of New York in part denied a renewed motion by Midland Funding, LLC (“Midland”) to dispose of claims brought by Saliha Madden (“Madden”) under the Fair...more
Weighing in recently on a debt collector's petition for writ of certiorari in Madden v. Midland Funding, LLC, the United States Solicitor General agreed that the Second Circuit was wrong in concluding that the National Bank...more
On July 20, the Department of the Treasury published a Notice and Request for Information (“RFI”) seeking comment on various aspects of online marketplace lending, including – - the business models and products offered...more
A national bank can charge an interest rate that exceeds state law maximums, but the bank’s assignee cannot, the U.S. Court of Appeals for the Second Circuit ruled recently, in a decision that could impact the ability of debt...more