Category Archives: 2d Circuit

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SCOTUS to Resolve Circuit Split Over Dodd-Frank Whistleblowers

On Monday, June 26, 2017, the U.S. Supreme Court agreed to review whether the Dodd-Frank Act (DFA) prohibits retaliation against internal whistleblowers or only covers individuals who report to the U.S. Securities and Exchange Commission (the SEC). This question has divided practitioners and lower courts alike since Dodd-Frank’s passage in 2010. As reported in our … Continue Reading

Midland Credit Seeks SCOTUS Review of 2d Circuit Ruling that Significantly Impairs National Banks’ Ability to Sell Loans at Note Rate

On Nov. 9, 2015, Midland Credit Management, Inc., petitioned the Supreme Court to review the Second Circuit’s decision in Madden v. Midland Credit Management, which held that a loan is no longer protected from state usury laws under the National Bank Act (NBA) once it is sold. Midland Funding, a debt purchaser and servicer, purchased charged-off … Continue Reading