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Preliminary Injunctions Banks

Shumaker, Loop & Kendrick, LLP

Client Alert: Shumaker Prevails in Asserting Clients' Right to FINRA Arbitration

Sarasota, FL – Shumaker's clients celebrated a significant victory in their efforts to arbitrate claims against subsidiaries of the failed First Republic Bank. Sixteen former First Republic advisors—all of whom were clients...more

Ballard Spahr LLP

What in the world does birthright citizenship have to do with consumer financial services?

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The short answer is that the outcome of the Supreme Court hearing (whose oral argument is scheduled for May 15 at 10 am) is of immense importance to all stakeholders in the consumer financial services industry. We will...more

Cozen O'Connor

Democratic AGs Cheer Federal Court’s Halt of CFPB Dismantling

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A U.S. District Court has granted a preliminary injunction in National Treasury Employees Union v. Vought preventing the CFPB’s Acting Director from taking further steps to dismantle the agency....more

Orrick, Herrington & Sutcliffe LLP

District court grants partial preliminary injunction in case challenging Illinois law on interchange fees

Recently, the U.S. District Court for the Northern District of Illinois Court granted a partial preliminary injunction sought by banking associations against the Illinois Attorney General over the Illinois Interchange Fee...more

Ballard Spahr LLP

Illinois swipe fee injunction extended to cover out-of-state banks, but not federal credit unions

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Chief Judge Virginia Kendall of the Northern District of Illinois has extended her preliminary injunction prohibiting Illinois from enforcing the Illinois Interchange Fee Prohibition Act (the “IFPA”) to cover out-of-state...more

Ballard Spahr LLP

Court grants partial injunction for National Banks and Federal Savings Associations in the lawsuit challenging the Illinois...

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In a 37 page order, Chief Judge Virginia M. Kendall in the Northern District of Illinois determined that the Illinois Bankers Association, American Bankers Association, America’s Credit Unions, and Illinois Credit Union...more

Troutman Pepper Locke

Troutman Represents all Fifty States Bankers Associations and D.C. in Tenth Circuit DIDMCA Opt-Out Litigation

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In the last two weeks, several amicus briefs were filed in the Tenth Circuit in the ongoing litigation concerning Colorado’s opt-out from the Depository Institutions Deregulation and Monetary Control Act (DIDMCA). Troutman...more

Orrick, Herrington & Sutcliffe LLP

10th Circuit urged by associations to affirm a preliminary injunction

As previously covered by InfoBytes, the U.S. District Court for the District of Colorado preliminarily enjoined enforcement of Colorado’s UCCC against state-chartered banks not located in Colorado providing loans to Colorado...more

Ballard Spahr LLP

Corporate Transparency Act Litigation Update:  Eleventh Circuit Hears Argument, and District of Oregon Rejects Preliminary...

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Various industry groups have filed lawsuits in multiple federal districts challenging the constitutionality of the Corporate Transparency Act (“CTA”). The first such suit, filed in the Northern District of Alabama, resulted...more

Ballard Spahr LLP

Plaintiffs oppose Colorado’s motion for a stay of the preliminary injunction in the Colorado opt-out litigation

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Very soon, briefing by the parties in the 10th Circuit will commence with respect to Colorado’s appeal of a preliminary injunction entered by the Federal District Court for the District of Colorado. The District Court...more

Ballard Spahr LLP

Tenth Circuit sets briefing schedule in appeal from preliminary injunction granted to trade groups with respect to Colorado...

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We are following very closely this appeal to the 10th Circuit of the preliminary injunction issued by the Federal District Court for the District of Colorado to the plaintiffs (three trade groups) enjoining the Colorado...more

Ballard Spahr LLP

Magistrate Judge stays further proceedings pending resolution of 10th Circuit appeal in Colorado litigation challenging Colorado...

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We previously reported that, on July 18, the Colorado Attorney General and UCCC Administrator appealed to the 10th Circuit Court of Appeals challenging Judge Domenico’s order dated June 18 D. (Colo.) granting a preliminary...more

Ballard Spahr LLP

Colorado seeks stays of District Court proceedings and preliminary injunction

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We previously reported that, on July 18, the Colorado Attorney General and UCCC Administrator appealed to the 10th Circuit Court of Appeals challenging Judge Domenico’s order dated June 18 D. (Colo.) granting a preliminary...more

Ballard Spahr LLP

Plaintiffs file amended complaint in Colorado opt-out litigation

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Here is an update on the lawsuit filed by three trade associations against the Colorado Attorney General and UCCC Administrator challenging the application of the Colorado opt-out statute to out-of-state, state chartered,...more

Ballard Spahr LLP

Colorado UCCC Administrator issues interpretive opinion letter regarding Colorado opt-out law

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On April 22, 2024 (almost 2 months before Judge Daniel Domenico issued a preliminary injunction against the UCCC Administrator and Colorado Attorney General), Administrator Martha Fulford issued an Interpretive Opinion Letter...more

Buchalter

Federal Court Bars Colorado From Imposing Colorado Interest Rates on Loans Made by Out of State Banks

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A new Colorado law required all banks and credit unions chartered in any state to charge only Colorado’s maximum interest rate, not the interest rates allowed by the lender’s state. In an opinion published on June 18, the US...more

Husch Blackwell LLP

Colorado's DIDMCA Opt Opt Paused for Bank Loans Made Out of State

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The financial services industry has (finally) received some good news. Last week, a federal court granted a preliminary injunction to stop Colorado from enforcing interest and certain fee limitations under the Colorado...more

Troutman Pepper Locke

Colorado Federal Court Enjoins State Enforcement of DIDMCA Opt-Out Legislation Against Out-Of-State Lenders

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On June 18, a Colorado federal court granted the plaintiff trade groups’ motion for a preliminary injunction, effectively halting the enforcement of Colorado’s H.B. 1229 with respect to loans made by out-of-state...more

Ballard Spahr LLP

Colorado federal court issues preliminary injunction prohibiting Colorado from enforcing DIDMCA opt-out to loans made to Colorado...

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The Colorado federal district court hearing NAIB, et al v. Weiser, et al., the lawsuit filed by three consumer financial services industry trade groups challenging Colorado’s opt-out legislation, has granted the plaintiffs’...more

Ballard Spahr LLP

Oh, won’t you stay (enforcement): Plaintiffs seek preliminary injunction in Colorado interest rate preemption opt-out challenge

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Colorado’s attempt to opt out of interest rate exportation by out-of-state, state-chartered banks ultimately will fail, and will cause irreparable harm in the interim: therefore, enforcement of the opt out should be...more

Ballard Spahr LLP

Trade groups file lawsuit in Texas federal court challenging final OCC/FDIC/Federal Reserve Community Reinvestment Act rules

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Several national and Texas banking and business trade groups have filed a lawsuit in the U.S. District Court for the Northern District of Texas challenging the final regulations (Final Rules) implementing the Community...more

Troutman Pepper Locke

Trade Groups File Lawsuit Challenging CRA Modernization Final Rule

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This week, the Texas Bankers Association, the Amarillo Chamber of Commerce, the American Bankers Association, the Chamber of Commerce of the United States of America, the Longview Chamber of Commerce, the Independent...more

Sheppard Mullin Richter & Hampton LLP

California Court Denies DFPI’s Motion for Preliminary Injunction Against Fintech

On October 30, the Superior Court of California County of Los Angeles denied the DFPI’s motion for a preliminary injunction to force a Chicago-based fintech company to stop facilitating loans to California borrowers from its...more

Ballard Spahr LLP

CFPB files opposition to preliminary injunction motion of plaintiffs in Kentucky lawsuit challenging CFPB’s small business lending...

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The CFPB has filed its opposition to the motion for a preliminary injunction filed by the plaintiffs in the Kentucky federal court lawsuit challenging the CFPB’s final small business lending rule (Rule)....more

Ballard Spahr LLP

Nonbank floorplan lender and trade association for nonbank providers of equipment and vehicle financing file motion seeking to...

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Yet another unopposed emergency motion for leave to intervene has been filed in the Texas lawsuit challenging the CFPB’s final small business lending rule (Rule).  The latest proposed intervenors are XL Funding, LLC d/b/a...more

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