Category Archives: Preemption

Citing Madden v. Midland Funding, Colorado Regulator Challenges Bank Partnership Model

The Colorado Administrator of the Uniform Consumer Credit Code (UCCC”) has filed complaints against two UCCC licensees alleging violations of Colorado’s usury cap. Both licensees utilize bank partnerships to originate their loans. Citing Madden v. Midland Funding, the Administrator, represented … Continue reading

Posted in Assignor-Assignee, Attorney General, Colorado, Federal Court, National Bank Act, Preemption, Usury Cap, Usury Exceptions | Comments Off on Citing Madden v. Midland Funding, Colorado Regulator Challenges Bank Partnership Model

US District Court Decision Casts Doubt on Applicability of NBA Preemption to Bank Partners

The recent decision in Edwards v. Macy’s Inc. from a US District Court in New York seemed to provide reassurance that NBA preemption extends to non-bank agents acting on behalf of a national bank. In the Edwards decision, the court relied on Madden v. Midland Funding for … Continue reading

Posted in Federal Court, National Bank Act, Pennsylvania, Preemption | Comments Off on US District Court Decision Casts Doubt on Applicability of NBA Preemption to Bank Partners