SIFMA has submitted an Amicus “Friend of the Court” Brief.

Court:

U.S. Court of Appeals
(Second Circuit)

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

Other Amici:

Structured Finance Industry Group