OCC and FDIC file joint amicus brief urging Colorado federal region court to reject Madden

March 1, 2021

OCC and FDIC file joint amicus brief urging Colorado federal region court to reject Madden

The OCC and FDIC have filed a joint brief that is amicus a Colorado federal district court arguing that the court should affirm your choice of the bankruptcy court keeping that a non-bank loan assignee could charge exactly the same rate of interest the lender assignor could charge under area 27(a) for the Federal Deposit Insurance Act, 12 U.S.C. ?§ 1831d(a), inspite of the 2nd Circuit??™s decision in Madden v. Midland Funding (which we now have criticized.)

The mortgage at issue had been produced by Bank of Lake Mills, a Wisconsin state-chartered bank, to CMS Facilities repair, Inc. (CMS), A colorado-based firm. Read the rest of this entry »