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Truth in Lending Act (TILA) National Bank Act

Cadwalader, Wickersham & Taft LLP

What Happens When You Ignore the Supreme Court? Maybe the Ninth Circuit Will Find Out – an Update on National Bank Preemption

As we reported in June, the Supreme Court handed down a decision in Cantero v. Bank of America on bank pre-emption matters that remanded cases decided by three different Circuit Courts, finding that  the courts did not apply...more

Ballard Spahr LLP

Petition for rehearing to be filed in Ninth Circuit in National Bank Act preemption case related to mortgage escrow accounts

Ballard Spahr LLP on

On August 27, we blogged about the Ninth Circuit unpublished panel opinion in Kivett v. Flagstar Bank issued upon remand of the case from the Supreme Court with instructions to follow the guidance of the Supreme Court...more

McGlinchey Stafford

Litigation Byte (June Edition)

McGlinchey Stafford on

The Litigation Byte is the new name and format for McGlinchey’s Commercial Law Bulletin. Our new format reflects McGlinchey’s national coverage and our expanded footprint while still serving up the digestible, insightful...more

Husch Blackwell LLP

Supreme Court to Hear National Bank Act Preemption Case

Husch Blackwell LLP on

The U.S. Supreme Court has agreed to address whether state laws that require national banks to pay 2% annual interest on residential mortgage escrow accounts are preempted by the National Bank Act (NBA) and thus inapplicable...more

McGlinchey Stafford

New York Interest-On-Escrow Law Preempted by National Bank Act

McGlinchey Stafford on

On September 15, 2022, the U.S. Court of Appeals for the Second Circuit ruled in Cantero v. Bank of Am. that the National Bank Act (NBA) preempts a New York law requiring mortgage lenders to pay interest on mortgage escrow...more

Ballard Spahr LLP

Senator Sanders to introduce bill imposing 15% or lower consumer credit interest rate cap

Ballard Spahr LLP on

Senator Bernie Sanders recently announced that he will be introducing a bill, the “Loan Shark Prevention Act,” that would amend the Truth in Lending Act (15 U.S.C. 1606) (TILA) to establish a “national consumer credit usury...more

Ballard Spahr LLP

House Financial Services Committee schedules Oct. 11 mark-up of “Madden fix” bill

Ballard Spahr LLP on

Among the more than 20 bills that the House Financial Services Committee is scheduled to mark-up this Wednesday, October 11, is a bill to provide a “Madden fix” as well as several others relevant to consumer financial...more

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