A significant amicus brief was filed yesterday by many bank industry trade associations in the U.S. District Court for the District of Oregon in National Association of Industrial Bankers v. O’Day. This case challenges Oregon House Bill 4116’s attempt to utilize the state’s opt-out from Sections 521 through 523 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (“DIDMCA”) as a basis to regulate interest rates charged by out-of-state state banks.… Continue Reading