Midland Funding, LLC v. Madden
Published on:
December 11, 2015
SIFMA has submitted an Amicus “Friend of the Court” Brief.
Court:
U.S. Supreme Court
Amicus Issue:
Whether national bank preemption of state usury laws extends only to an originating national bank, and not to any assignee to whom the bank may sell the debt later in time (specifically, purchasers of credit card loans from national banks), which would likely negatively impact both national banks and secondary market participants who purchase loan products originated by banks.
Counsel of Record:
Sidley Austin LLP
James A. Huizinga
John K. Van de Weert
Mark E. Haddad
Collin P. Wedel
Other Amici:
Structured Finance Industry Group