NY Credit Card Securitization Class Action Misuses Madden
By Walter Zalenski ( July 18, 2019, 3:29 PM EDT) -- The U.S. Court of Appeals for the Second Circuit's decision in Madden v. Midland Funding LLC[1] is deservedly notorious. The Madden court erroneously held that state usury laws may prohibit a national bank's assignee from enforcing the interest rate on a credit agreement that was valid under the law of the state in which the national bank is located....
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