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General Business Consumer Protection Conflict of Laws

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Shouldn't You Be Using Arbitration Agreements to Reduce the Costs of Litigation and the Risk of Class Action Claims?

by Foley & Lardner LLP on

Businesses across the country regularly bemoan the time and expense of litigation. Even when businesses are successful in defending non-meritorious consumer claims alleging unfair or deceptive practices, false advertising,...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

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

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

SCOTUS Declines Hearing Madden: Are Industry Repercussions Limited?

In a disappointing move, the Supreme Court today denied the petition by Midland Funding to hear the case Madden v. Midland Funding. But could the inaction by the Supreme Court be much ado about nothing?...more

Update: Midland Funding v. Madden

by Morgan Lewis on

In an amicus curiae brief, the US Solicitor General recommends that the petition for certiorari in Madden be denied, but agrees that the Second Circuit’s decision is incorrect and emphasizes the importance of banks being able...more

Justice Department Sides With Financial Industry on Madden Case

Marketplace loan investors may want to "gather ye discounted Madden loans while ye may," as the Robert Herrick poem reads (taking some fintech license, of course). In the strongest rebuke yet of the U.S. Court of Appeals...more

Federal Preemption of State and Local Laws Governing Children's Products

by Stinson Leonard Street on

In January 2015, Albany County became the first of several municipalities in New York to enact a version of the “Toxic Free Toys Act” ("the Act") prohibiting any amount of six heavy metals and benzene in children’s products...more

U.S. Supreme Court Ruling Upholds Arbitration Over Class Action Litigation

by Morrison & Foerster LLP on

SUPREME COURT UPHOLDS CLASS ARBITRATION WAIVERS - With its ruling on December 14, 2015, the Supreme Court continues to protect arbitration as a means of dispute resolution by cracking down on attempts to circumvent the...more

New York City’s RBA Falls to Preemption Challenge

by Alston & Bird on

New York City banks are breathing a sigh of relief after a federal judge ruled that they would not have to provide detailed servicing disclosures under a preempted city law. The law, a gloss on top of the federal Community...more

Food Litigation Newsletter - August 2015

by Perkins Coie on

This Newsletter Aims to keep those in the food industry up to speed on developments in food labeling and nutritional content litigation. RECENT SIGNIFICANT RULINGS - Class Certification Denied In Popcorners “All...more

It Is Now Easier To Draft Class Action Waivers and Arbitration Agreements

by Dorsey & Whitney LLP on

Last week, the California Supreme Court provided additional guidance as to how to draft an enforceable arbitration agreement and how Courts should analyze whether mandatory arbitration provisions can be held unconscionable...more

Second Circuit Decision Could Disrupt Secondary Market for Bank-Originated Loans

by Ropes & Gray LLP on

A May 22, 2015 decision by the U.S. Court of Appeals for the Second Circuit appears to disturb the generally settled body of law concerning the status of non-bank investors with respect to applicable usury laws for...more

Second Circuit Declines To Allow National Bank Preemption by Assignee of National Bank

by Goodwin on

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

Second Circuit Holds That National Bank Act Preemption Does Not Apply to an Independent, Third-Party Debt Collector That Purchased...

by K&L Gates LLP on

The Second Circuit recently issued a National Bank Act preemption decision with significant implications for purchasers of loans and other debt from national banks. See Madden v. Midland Funding, LLC, --- F.3d ---, 2015 WL...more

Second Circuit Ruling Undermines National Bank Act Preemption of State Usury Laws for Loans Transferred to Non-Banks

by Ballard Spahr LLP on

The U.S. Court of Appeals for the Second Circuit ruled last week that a purchaser of charged-off debts from a national bank was not entitled to assert the preemption of state usury laws available to national banks under...more

Class Actions News - Deborah Renner on Dart Cherokee Basin v. Owens

by Lawline.com on

On December 15th 2014, the Supreme Court of the United States decided upon Dart Cherokee Basin Operating Co. v. Owens, which lowers the removal standard of class action lawsuits to federal court. This decision established...more

Supreme Court Grants Certiorari on Notice of Rescission Under TILA

by Goodwin on

The United States Supreme Court indicated that it will review an opinion from the United States Court of Appeals for the Eighth Circuit involving whether notice alone was sufficient to effectuate a rescission under the Truth...more

California Courts Rule for and against Arbitration

by Ballard Spahr LLP on

Two recent Ninth Circuit opinions and a California Supreme Court ruling demonstrate that the debate over the enforceability of consumer arbitration provisions is far from over. With the U.S. Supreme Court weighing whether to...more

Recent Rulings Find Preemption of State Law Claims and Enforce Airline Contracts of Carriage

by Holland & Knight LLP on

In the past few months, courts have issued several decisions favorable to the airlines finding preemption of various state law claims and rejecting breach of contract claims. The decisions address a variety of passenger...more

Spotlight on Unclaimed Property: CFPB Rules That Federal Law Preempts Tennessee's Unclaimed Property Statute Applicable to Gift...

by Baker Donelson on

In its first preemption determination, on April 19, 2013, the Consumer Financial Protection Bureau (CFPB) ruled that Tennessee's unclaimed property statute provisions applicable to gift cards are preempted by federal law. The...more

CFPB issues first preemption determinations

by Ballard Spahr LLP on

Last week, the CFPB issued final determinations as to whether certain Maine and Tennessee laws relating to unclaimed gift cards are preempted by federal law on gift card expiration dates. The rulings represent the CFPB’s...more

CFPB Uses Novel Interpretation, Increases Compliance Burden for Gift Card Issuers Through its First Preemption Determination

by Morrison & Foerster LLP on

On April 19, 2013, the Consumer Financial Protection Bureau (“CFPB”) announced it was making a determination to preempt a provision of Tennessee unclaimed property law that it deemed inconsistent with the federal Electronic...more

ABA seeks broad CFPB preemption ruling

by Ballard Spahr LLP on

In August, the CFPB issued a notice seeking public comment on its plans to determine whether certain provisions of Maine and Tennessee laws relating to unclaimed gift cards are preempted by federal law on gift card expiration...more

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