DIDMCA

Oh, won’t you stay (enforcement): Plaintiffs seek preliminary injunction in Colorado interest rate preemption opt-out challenge

By Mindy Harris, Joseph J. Schuster, Ronald K. Vaske, John L. Culhane, Jr. & Alan S. Kaplinsky on April 10, 2024

Posted in Litigation and Court Decisions, Usury

Colorado’s attempt to opt out of interest rate exportation by out-of-state, state-chartered banks ultimately will fail, and will cause irreparable harm in the interim: therefore, enforcement of the opt out should be preliminarily enjoined, according to the plaintiffs’ Motion for Preliminary Injunction (the “Motion”) filed April 2, 2024 in federal district court in Colorado in NAIB et al.… Continue Reading

A fresh idea for the consumer financial services industry

By Alan S. Kaplinsky on April 8, 2024

Posted in Litigation and Court Decisions

I have been thinking about what the banking and consumer financial services industry might do to deter state attorneys general and banking agencies from seeking to enforce statutes or promulgating regulations that run afoul of provisions of the U.S. Constitution, like the Supremacy Clause, Commerce Clause, etc. My idea might even deter state legislatures from enacting Constitutionally-flawed statutes in the first place. … Continue Reading