News & Analysis as of

Finance & Banking Conflict of Laws

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Education Dept. says state student loan servicing laws are preempted

by Ballard Spahr LLP on

In response to the wave of new state student loan servicing laws and enforcement activity, the U.S. Department of Education has published an interpretation emphasizing that the Higher Education Act (HEA) preempts state...more

Federal Court Sends Colorado's Case Against Online Lending Platform Back to State Court

Colorado's ongoing challenge to the bank partnership model of online lending will next play out, at least in part, in state court. Last year, the Administrator of Colorado's Uniform Consumer Credit Code filed suits in...more

10th Circuit Finds Rooker-Feldman Inapplicable to Colorado Non-Judicial Foreclosure Procedure

by Weiner Brodsky Kider PC on

The U.S. Court of Appeals for the Tenth Circuit recently determined that the Rooker-Feldman doctrine, which limits federal-court jurisdiction, does not apply to a Colorado procedure for non-judicial foreclosure of mortgages....more

Seventh Circuit Holds that ERISA does not Preempt State “Slayer Statute”

by Bryan Cave on

We turn once again to the sad and difficult task that plan administrators face when distributing the benefits of a participant who has been murdered by his or her designated beneficiary. Sad for obvious reasons. Difficult...more

Directors Fail To Escape Liability For Approving Dividend

by Allen Matkins on

I last wrote about FDIC v. Ching, 2014 U.S. Dist. LEXIS 92687 (E.D. Cal. July 8, 2014) in July of 2014. That post concerned Judge Kimberly J. Mueller's ruling that California's statutory restrictions on distributions to...more

House passes bills to facilitate online banking, allow federal savings associations to exercise national bank powers

by Ballard Spahr LLP on

The following bills were passed by the House earlier this week: The “Making Online Banking Initiation Legal and Easy (MOBILE) Act, H.R. 1457. Passed by a vote of 397-8, the MOBILE Act would allow a bank to scan and retain...more

Central District Of California Finds No ERISA Preemption Where Determination Of Benefits At Termination Is Non-Discretionary

by Seyfarth Shaw LLP on

Seyfarth Synopsis: Claims for benefits at termination may proceed as a breach of contract claim in state court, and avoid ERISA preemption, where the calculations are individualized, straightforward and do not implicate an...more

Attorney General Sessions' Rescission of DOJ Marijuana Guidance Signals Uncertainty for the Marijuana Industry

by Stinson Leonard Street on

On January 4, 2018, U.S. Attorney General Jeff Sessions officially rescinded all of the prior Obama-era Department of Justice (DOJ) marijuana-related guidance, including the so-called “Cole Memo.” That guidance had provided...more

U.S. Attorney General Reverses Policy on Legal Marijuana

by Husch Blackwell LLP on

On January 4, 2018, U.S. Attorney General Jeff Sessions rescinded, effective immediately, previous enforcement priorities of the Department of Justice (DOJ) on marijuana, including the Cole Memo. The move creates uncertainty...more

Nice Try – Court Rebuffs Debt Collector's Attempt to Purchase Lawsuit Against Itself

by Ballard Spahr LLP on

A debt collector cannot avoid claims under the Fair Debt Collection Practices Act (FDCPA) by purchasing the debtor's lawsuit, according to a recent opinion from the U.S. Court of Appeals for the Ninth Circuit. ...more

Dana Gas – choice of English governing law upheld over arguments of non-Shari'a compliance

by Dentons on

Dana Gas PJSC (Dana Gas), the Abu Dhabi Stock Exchange listed, UAE-based energy producer, commenced restructuring negotiations with a number of its creditors in May 2017. Just over a month later, Dana Gas announced that...more

Bank Of Tokyo Mitsubishi Sues DFS And Alleges That DFS Has No Investigatory Or Enforcement Authority Over It Since It Is Now...

by Shearman & Sterling LLP on

On November 7, 2017, in the midst of a pending examination by, and implementation of previously agreed upon consent orders with, the New York State Department of Financial Services (“DFS”), the Bank of Tokyo Mitsubishi UFJ...more

Second Circuit Clarifies New York Anti-Subrogation Law Prohibits Offsets For Settlements; Declares Plan’s Choice-of-Law Provisions...

The U.S. Court of Appeals for the Second Circuit has ruled that New York’s anti-subrogation statute, N.Y. Gen. Oblig. Law § 5-335(a), applies both to “offsets” for prospective benefit payments and to reimbursements for prior...more

D.C. belatedly releases Bill of Rights for student loan borrowers

by Ballard Spahr LLP on

The District of Columbia Student Loan Ombudsman Establishment and Servicing Regulation Act of 2016 (Servicing Act) became effective February 18, 2017. The Servicing Act set an October 1 deadline for the Student Loan...more

CyberSecurity Regulation Back on Center Stage After Data Breach

by Goodwin on

The issue of cybersecurity is back in front of Congress in the wake of the news of the data breach at Equifax Inc., which reportedly has affected approximately 143 million consumers. Various industry trade groups, including...more

Supreme Court Declines to Resolve Circuit Split on Debt Recharacterization

On August 10, 2017, the U.S. Supreme Court rescinded the grant of certiorari in PEM Entities LLC v. Levin on the grounds that review had been “improvidently granted.” The case seemingly provided a perfect vehicle to resolve...more

Ninth Circuit Holds that ERISA Preempts State Insurance Law Bans on Discretionary Clauses for Self-Funded ERISA Plans

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The Ninth Circuit Court of Appeals recently confirmed that ERISA preempts state insurance law bans on discretionary clauses for self-funded ERISA plans....more

Big Win for Servicers and Lenders of Fannie and Freddie Owned Loans against Nevada HOA Foreclosures

Last week, the U.S. Court of Appeals for the Ninth Circuit issued a significant decision in favor of lenders and mortgage servicers fighting off claims that their mortgage liens were extinguished by Nevada homeowners...more

Financing California’s Cannabis Businesses: Public Banking Model as a State-Level Solution

by Wilson Elser on

The California Cannabis Banking Working Group (CBWG) is meeting this week to discuss the prospect of implementing a public banking model in California to facilitate access to financial services for marijuana-related...more

Another trade group seeks federal preemption guidance from ED

by Ballard Spahr LLP on

The National Council of Higher Education Resources (NCHER), a national trade association representing higher education finance organizations, has written to the Department of Education urging the ED to issue preemption...more

Federal Court Compels Arbitration of Dodd-Frank Whistleblower Claim

In a recent decision, the U.S. District Court for the Western District of Wisconsin held that Dodd-Frank whistleblower claims (Section 922 claims) are subject to mandatory arbitration. Wussow v. Bruker Corp., No....more

Nevada HOA Super-Priority Litigation Update: Nevada Supreme Court Rules in Favor of Lenders on Standing Issue

The Government-Sponsored Enterprises (GSEs) and their servicers scored a significant victory last week in the Nevada Supreme Court. In Nationstar Mortgage, LLC v. SFR Investments Pool 1, LLC (Case No. 69400), the court held...more

Banking for Marijuana Businesses on the Rise

by Garvey Schubert Barer on

The Financial Crimes Enforcement Network (“FinCen”) issued a Marijuana Related Business update in June with data from the first quarter of 2017. FinCen reports that the number of depository institutions that are actively...more

Trade association asks ED to confirm preemption of state student loan servicing requirements for federal student loans

by Ballard Spahr LLP on

Education Finance Council, a national trade association representing state-based nonprofit higher education finance organizations, has asked the Department of Education to “publicly state” that the ED’s rules governing...more

Corporate News – June 2017

by Hogan Lovells on

The Pre-Emption Group reports on the use of its Statement of Principles - The Pre-Emption Group, which represents listed companies, investors and intermediaries, has published a monitoring report looking at the use of its...more

371 Results
View per page
Page: of 15

Follow Finance & Banking Updates on:

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.