Orrick Madden Alerts

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The Madden Cloud is Lifting

by Robert Loeb and Howard S. Altarescu | September.23.2020

In 2015, the Second Circuit’s decision in Madden v. Midland Funding, LLC, raised doubts about whether banks could transfer, sell, or assign their ...

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Madden Progeny Update

by Howard S. Altarescu, Robert Loeb and Ned Hirschfeld | March.05.2020

An update on where the key cases and regulatory actions related to the Second Circuit’s 2015 decision in Madden vs. Midland stand today.

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Federal Regulators Issue Key Guidance on Fintech Issues

by Robert Loeb, Howard S. Altarescu and Christopher J. Cariello | August.02.2018

On July 30, the U.S. Department of the Treasury and the Office of the Comptroller of the Currency provided important guidance on a broad range of ...

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Federal Court Sends Colorado's Case Against Online Lending Platform Back to State Court

by Robert Loeb, Howard S. Altarescu, Christopher J. Cariello and Ned Hirschfeld | March.13.2018

Colorado's ongoing challenge to the bank partnership model of online lending will next play out, at least in part, in state court.

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The Online Lending Policy Summit Recap

by Robert Loeb and Howard S. Altarescu | September.27.2017

Highlights from the second annual Online Lending Policy Institute (OLPI) Online Lending Policy Summit held September 25 in Washington, D.C.

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Colorado Moves to Dismiss Suits Seeking Judgment That Bank-Originated Loans Facilitated and Serviced by Online Platforms Are Exempt From State Lending Laws

by Robert Loeb, Ned Hirschfeld and Howard S. Altarescu | April.27.2017

The Administrator of Colorado's Uniform Consumer Credit Code moved to dismiss two Banks' actions regarding state lending laws on several grounds.

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Banks Seek Judgment That Loans Facilitated By Online Platforms Are Exempt From Colorado's Lending Laws

by Robert Loeb, Howard S. Altarescu, Christopher J. Cariello and Ned Hirschfeld | April.07.2017

WebBank and Cross River Bank have filed separate federal court actions against the Administrator of Colorado's Uniform Consumer Credit Code.

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Comptroller of the Currency Tom Curry Discusses Fintech Charters

by Howard S. Altarescu and Robert Loeb | March.07.2017

At the LendIt Conference in New York, Comptroller of the Currency Tom Curry discussed special purpose national bank charters for fintech companies.

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Madden v. Midland Update: District Court Denies Summary Judgment and Certifies Class

by Robert Loeb, Christopher J. Cariello and Ned Hirschfeld | March.01.2017

After the U.S. Supreme Court refused to grant review of the Second Circuit's May 2015 decision in Madden v. Midland concerning federal preemption of ...

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Class Action Against Lending Club and WebBank Headed to Defeat

by Robert Loeb, Christopher J. Cariello and Ned Hirschfeld | January.31.2017

A federal district court in New York granted a motion to compel arbitration in a class action raising important issues for the fintech industry.

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Rejecting "True Lender" Arguments, California District Court Dismisses Claims Against Student Loan Servicers

by Robert Loeb, Howard S. Altarescu and Christopher J. Cariello | September.26.2016

This past Thursday, September 22, a federal district court in the Central District of California dismissed an action raising usury claims against ...

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Case Update: Midland Funding v. Madden – Supplemental Brief

by Robert Loeb, Howard S. Altarescu and Christopher J. Cariello | June.08.2016

As we reported in our case update on May 26, the Solicitor General filed its brief expressing the Government’s views on the cert-worthiness of ...

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Case Update: Midland Funding v. Madden: The Solicitor General Brief Could Be a Game Changer

by Howard S. Altarescu, Robert Loeb and Christopher J. Cariello | May.26.2016

In response to a request of the U.S. Supreme Court, the U.S. Solicitor General’s Office on Tuesday filed a brief with the Court expressing the U.S. ...

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Case Update: Midland Funding v. Madden

by Howard S. Altarescu, Robert Loeb and Christopher J. Cariello | March.22.2016

The U.S. Supreme Court on Monday issued an order inviting the Solicitor General to provide the views of the United States on whether the Court should ...