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Madden High Court Denial — Much Ado About Not Much

Law360, New York (June 27, 2016, 5:22 PM EDT) -- Brian S. Korn

Richard E. Gottlieb In a disappointing move, the U.S. Supreme Court on Monday denied the petition by Midland Funding to hear the case Madden v. Midland Funding.

But could the decision by the Supreme Court be much ado about nothing?

The denial leaves in place the decision of the U.S. Court of Appeals for the Second Circuit that the National Bank Act does not provide a shield against state law usury claims even though the loan, as originated by a national bank, was not usurious. Despite the strong objections of industry lobbying forces, the Supreme Court denied hearing...

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