The Federal Trade Commission (“FTC”) recently announced an updated rule to strengthen data security safeguards for financial institutions. 16 C.F.R. § 314. As a result of increasing cyberattacks and data breaches, the FTC...more
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
7/13/2016
/ Banking Sector ,
Corporate Counsel ,
Debt Buyers ,
Financial Services Industry ,
Interest Rates ,
Madden v Midland Funding ,
National Bank Act ,
Online Marketplace Lending ,
Preemption ,
SCOTUS ,
Solicitor General ,
Usury
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