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Seven states and D.C. file lawsuit challenging FDIC “Madden fix” rule

CFPB Monitor

The plain language of the governing federal statute applies only to interest that an FDIC-insured state bank may charge. Allegedly, the FDIC’s rule represents an expansion of the FDIA’s preemption of state law interest rate caps by extending the preemption to assignees of loans originated by such banks.

FDIC 78
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Conference of State Bank Supervisors files new lawsuit to block OCC approval of Figure Technologies charter application

CFPB Monitor

federal district court to block the OCC from granting a national bank charter to Figure Technologies Inc. federal district court challenging the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies.

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Plaintiffs in lawsuit challenging OCC Madden-fix rule move for summary judgment

CFPB Monitor

The Attorneys General of California, Illinois, and New York have filed a motion for summary judgment in their lawsuit filed against the Office of the Comptroller of the Currency (OCC) to enjoin the OCC’s final rule purporting to override the Second Circuit’s Madden decision as to national banks and federal savings associations.

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Public Policy Predictions 2019: Regulatory Reforms Ahead

FICO

Court Appeals for the District of Columbia vacated key parts of the Federal Communications Commission (FCC) 2015 TCPA Order , which had created much confusion and sparked increased litigation. This past year has been one of promise and progress for those waiting on TCPA reform. In March, the U.S.