May 24, 2016 Alert - Update on Madden v. Midland
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May 24, 2016
 

UPDATE ON MADDEN v. MIDLAND

Earlier today, May 24, 2016, the U.S. Office of the Solicitor General filed its brief to the Supreme Court, in response to the Court’s request for the views of the United States on whether the case should be heard.

The Solicitor General recommends that the petition for a writ of certiorari be denied. However, the brief does indicate that the Second Circuit decision was decided incorrectly, and that under the National Bank Act an assignee of a loan from a national bank can continue to charge the interest rate on the loan.

SFIG previously submitted an amicus curiae brief in support of the petitioners in the case.

If you are interested in learning more about SFIG’s advocacy on this matter, or if you would like to join the Marketplace Lending Committee, please contact Jennifer Wolfe or Alyssa Acevedo.

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