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Debt Collectors › National Bank Act

Ballard Spahr LLP

Parties seek preliminary approval of class action settlement in Madden case

Ballard Spahr LLP on

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

Manatt, Phelps & Phillips, LLP

Borrower Wins Key Victory in Madden v. Midland

Manatt, Phelps & Phillips, LLP on

A federal judge has ruled that New York law—not Delaware law as the parties agreed in the initial loan agreement—applies to the defaulted borrower's claims and has certified a class action against the debt collector....more

Manatt, Phelps & Phillips, LLP

NBA Doesn’t Preempt State Usury Claims Against Assignee of National Bank, Second Circuit Rule

Manatt, Phelps & Phillips, LLP on

Why it matters - In a potentially troubling ruling, the Second Circuit Court of Appeals refused to find the National Bank Act (NBA) preempted state law usury claims against an assignee of a national bank. In a putative...more

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