News & Analysis as of

Interest Rates Madden v Midland Funding Petition for Writ of Certiorari

MoFo Reenforcement

The Madden Saga Continues: On Remand, Madden Survives Summary Judgment and District Court Certifies Class

MoFo Reenforcement on

On February 27, 2017, the U.S. District Court for the Southern District of New York in part denied a renewed motion by Midland Funding, LLC (“Midland”) to dispose of claims brought by Saliha Madden (“Madden”) under the Fair...more

Dechert LLP

Implications of Madden v. Midland Funding

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

Blank Rome LLP

Madden v. Midland Funding: Supreme Court Leaves Non-Bank Loan Assignees Exposed to State Usury Laws

Blank Rome LLP on

On June 27, 2016, the Supreme Court of the United States (the “Court”) denied Midland Funding LLC’s petition for certiorari in Madden v. Midland Funding, thereby letting stand a ruling by the Court of Appeals for the Second...more

Nutter McClennen & Fish LLP

Supreme Court Declines Review of Controversial Second Circuit Loan Purchase Decision

The United States Supreme Court recently declined to review the Second Circuit’s controversial opinion in Madden v. Midland Funding. As a result, uncertainty remains for non-bank purchasers of commercial paper on the...more

Troutman Pepper

Supreme Court's Rejection Is Not the End of the Road for Madden v. Midland Funding

Troutman Pepper on

Regardless of whether or not Midland’s case is successful at the district court, there are a number of reasons why the Second Circuit’s Madden decision is not as disastrous as some have portrayed it to be. On June 27,...more

BCLP

Banks and Marketplace Lenders Absorb a Blow

BCLP 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

Cadwalader, Wickersham & Taft LLP

It’s a Mad, Mad, Madden World

On Monday, June 27, 2016, the Supreme Court of the United States denied the petition for certiorari in Midland Funding LLC v. Madden, No. 15-610.  The Supreme Court’s denial leaves intact the unusual – and troubling –...more

Morgan Lewis

Supreme Court Denies Certiorari Petition in Madden Case

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

Manatt, Phelps & Phillips, LLP

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

Ballard Spahr LLP

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

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

Manatt, Phelps & Phillips, LLP

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

Morgan Lewis

Update: Midland Funding v. Madden

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

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