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Read Civil Procedure updates, alerts, news, and legal analysis from leading lawyers and law firms:

Colorado Moves to Dismiss Suits Seeking Judgment That Bank-Originated Loans Facilitated and Serviced by Online Platforms Are...

As we noted in a recent Alert, WebBank and Cross River Bank filed separate federal civil actions to enjoin the Administrator of Colorado's Uniform Consumer Credit Code from enforcing state lending laws against Avant, Inc. and...more

California Supreme Court Finds Arbitration Agreement Waiver of 'Public Right' Unenforceable

by Pepper Hamilton LLP on

On April 6, the California Supreme Court issued a unanimous opinion in McGill v. Citibank, finding that a pre-dispute arbitration agreement was unenforceable to the extent it required the plaintiff to waive her right to seek...more

Litigation Alert: CA Supreme Court Holds Arbitration Provisions Waiving Right to Seek Public Injunctive Relief "In Any Forum" Are...

by Fenwick & West LLP on

In a closely-watched case, the California Supreme Court recently held in McGill v. Citibank, N.A. that arbitration clauses that foreclose a plaintiff’s right to pursue public injunctive relief in any forum are invalid and...more

California Supreme Court Invalidates Contractual Waivers Of Public Injunctive Relief

by Seyfarth Shaw LLP on

Seyfarth Synopsis: No California contractual provision, including one in an arbitration agreement, can waive the statutory right to seek injunctive relief to protect the general public. McGill v. Citibank, N.A. (April 6,...more

California Breaks Further from Concepcion: Arbitration Agreements Face Further Challenge

by Selman Breitman LLP on

Notwithstanding the Federal Arbitration Act (“FAA”), arbitration agreements that purport to waive a consumer’s right to seek public injunctive relief under California’s consumer protection statutes are contrary to California...more

Dancing On Their Own: The California Supreme Court’s Decision in McGill v. Citibank, N.A. that Class Action Waivers Do Not Apply...

On April 6, 2017, the California Supreme Court struck another blow in its contentious battle with the United States Supreme Court on the enforceability of consumer arbitration clauses subject to the Federal Arbitration Act...more

Banks Seek Judgment That Loans Facilitated By Online Platforms Are Exempt From Colorado Lending Laws

In the last two weeks, WebBank and Cross River Bank—federally insured banks chartered in Utah and New Jersey, respectively—filed separate federal court actions (WebBank Complaint; Cross River Bank Complaint) against the...more

Remand Decision in Madden v. Midland Funding Raises Questions Regarding Choice of Law Clauses in Consumer Loan Agreements

by Pepper Hamilton LLP on

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

The Super-Priority Saga Continues – Nevada Supreme Court Holds That NRS 116’s Notice Provisions Are Constitutional

The Ninth Circuit sent shockwaves through the mortgage industry when it held that NRS 116—the statute allowing an HOA to impose a nominal super-priority lien that can extinguish a senior deed of trust when foreclosed—was...more

The Intersection of Bankruptcy, Debt Collection and the Supreme Court

by Barley Snyder on

For years the interplay between the Bankruptcy Code and the Fair Debt Collection Practices Act (FDCPA) has vexed creditors and courts alike, leading to a split among the circuits as to whether the Bankruptcy Code preempts the...more

Commercial Restructuring & Bankruptcy Alert - October 2016

by Reed Smith on

Welcome to the October 2016 issue of the CR&B Alert, the newsletter produced by Reed Smith's Commercial Restructuring & Bankruptcy Group. Excerpt from newsletter: DELAWARE AND NEW YORK AT ODDS OVER RECLAMATION...more

The Solicitor General Weighs in on Madden v. Midland

by Pepper Hamilton LLP on

The Solicitor General’s brief argues the Second Circuit’s holding was incorrect, but does not recommend a grant of certiorari. On May 24, the U.S. Solicitor General and the Office of the Comptroller of the Currency...more

August 2016: Bankruptcy & Restructuring Litigation Update

Delaware Bankruptcy Court Disagrees with Second Circuit on Implied Preemption of State-Law Fraudulent Transfer Claims Brought by Creditors. In recent years, several bankruptcy and district courts have addressed whether the...more

Implications of Madden v. Midland Funding

by Dechert LLP on

In earlier client OnPoints, we have provided a comprehensive review of recent developments in the U.S. affecting the marketplace lending industry, including the potentially far-reaching Madden v. Midland Funding, LLC case...more

Will Madden v Midland Disrupt Loan Sales and Platform Lending?

Where do marketplace lenders and secondary loan market participants find themselves on the issue of preemption of state usury laws after the June 27 denial of the petition for a writ of certiorari in Madden v. Midland by the...more

Installment Lender Using Bank Partner Model Needs Maryland License, Court of Appeals Rules

by Ballard Spahr LLP on

The Maryland Court of Appeals, the state's highest court, in CashCall, Inc. et al. v. Maryland Commissioner of Financial Regulation, recently affirmed the judgment of the Court of Special Appeals (MCSA) directing CashCall to...more

Recent Supreme Court Action Creates Uncertainty in Financial Industry

by Polsinelli on

On June 27, 2016, the U.S. Supreme Court declined to review a Second Circuit Court of Appeals decision in the case of Madden v. Midland Funding, LLC. The High Court’s decision will allow a consumer class action against...more

Madden Uncertainty Remains for Secondary Loan Market

by White & Case LLP on

The US Supreme Court last week delivered another blow to the unsteady secondary loan market industry by denying a request for certiorari in an important case for banks and buyers and sellers of loans and other debt...more

U.S. Supreme Court Declines to Hear National Bank Act Preemption Case

by Blank Rome LLP on

Action Item: The United States Supreme Court declined to review a Second Circuit ruling that non-national bank assignees of debt are not entitled to preemption of state usury laws under the National Bank Act. The Supreme...more

Banks and Marketplace Lenders Absorb a Blow

by Bryan Cave on

In a blow to banks and the marketplace lending industry, on June 27, 2016, the U.S. Supreme Court denied the petition by Midland Funding to hear the case Midland Funding, LLC v. Madden (No. 15-610). That case involves a...more

Supreme Court Declines to Review Second Circuit Decision Subjecting Defaulted Debt Buyers to State Usury Laws

On June 27, the United States Supreme Court declined to review the Second Circuit’s decision in Madden v. Midland Funding, LLC, 786 F.3d 246 (2d Cir. 2015). By denying Midland Funding, LLC’s petition for a writ of...more

Does “Valid When Made” Apply To Evidences Of Indebtedness Qualified Under The CSL?

by Allen Matkins on

Many have expressed disappointment that the U.S. Supreme Court denied certiorari in Midland Funding, LLC v. Madden. The question presented by the petitioners in the case was as follows...more

Supreme Court Denies Certiorari Petition in Madden Case

by 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

Leveraging Government's Brief, Midland Pushes for Cert

Capitalizing on the government's position in its brief to the U.S. Supreme Court, Midland Funding filed a supplemental brief in support of its quest to have the justices overturn a Second Circuit Court of Appeals opinion...more

Supreme Court Denies Certiorari To Review Second Circuit’s Decision in Madden v. Midland Funding, LLC

by Ballard Spahr LLP on

The U.S. Supreme Court has denied certiorari to review the decision of the U.S. Court of Appeals for the Second Circuit in Madden v. Midland Funding, LLC. As previously reported, Madden involved a putative class action...more

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