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Madden v. Midland: Why this case on state usury laws should concern you
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Banking, Case Law, Consumer Protection
Tuesday, June 7, 2016
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In response to a request from the U.S. Supreme Court, the Solicitor General filed a brief recommending that the Supreme Court should hear Madden v. Midland Funding, Inc., a case centering on the question of whether the National Bank Act’s preemption of state usury laws still applies after a national bank sells or assigns a loan to a non-national bank entity. Read on for more details about the case as well as its next steps.
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