Category Archives: Preemption

Paul Bland: The Swamp on Steroids: Trump’s Plan to Repeal Dodd-Frank Will Enable Corruption

Here.  The whole piece is worth reading, but here's an excerpt: Donald Trump’s Presidential campaign was filled with a lot of bold talk about “draining the swamp” and fighting against lobbyists. He attacked Hillary Clinton for her supposed cozy relationship with banks, and talked about how he’d stand up to Wall Street on behalf of the […]

NY City bank-disclosure law struck down

A federal judge on Friday struck down New York City’s Responsible Banking Act, holding the city preempted by state and federal banking laws. The ordinance required deposit banks to disclose information about how the banks serve low-income neighborhoods. Under the ordinance, the information would be published and factor into whether banks would remain eligible to hold […]

Fifth Circuit Decides D.R. Horton, Overturns NLRB’s Ruling that Class-Action Bans are Unfair Labor Practices

by Deepak Gupta In a much-anticipated decision, the Fifth Circuit held today that the National Labor Relations Board overstepped its authority when it ruled that an employer violated federal labor law by requiring its employees to sign an arbitration agreement containing a class-action ban. Judge Leslie Southwick, joined by Judge King, isssued the opinion for the court. Here's […]

CFPB Files Brief Opposing Tribal Lenders’ Quasi-Preemption Argument

Last week, the CFPB filed an amicus brief in the Second Circuit in Otoe-Missouria Tribe of Indians et al. v. New York Department of Financial Services, a case in which online tribal payday lenders are challenging regulation by New York State. The CFPB's brief takes issue with the lenders' argument that Title X of the Dodd-Frank Act and […]

California Supreme Court addresses impact of Concepcion and Italian Colors

by Deepak Gupta In a 70-page opinion by Justice Goodwin Liu, the California Supreme Court on Thursday issued its eagerly anticipated decision in Sonic-Calabasas v. Moreno. Addressing the impact of both AT&T Mobility v. Concepcion and American Express v. Italian Colors for the first time, the court makes clear that unconscionability — focused on whether […]

Charles Schwab drops its class-action ban, at least for now

In February, the brokerage firm Charles Schwab won a ruling from a hearing panel of FINRA, the financial industry regulatory authority, invalidating FINRA's rule against class-action bans and allowing Schwab to use a class-action ban in its customer agreements.  The panel concluded that "the amended language used in Schwab's customer agreements to prohibit participation in […]

Justices Search for Limits on Preemption of Consumer Claims Based on Federal Transportation Deregulation Laws

Over at SCOTUSblog, I've got two posts up about Dan's City Used Cars v. Pelkey, an interesting preemption case that was argued before the U.S. Supreme Court this week. The case concerns whether transportation deregulation law preempts a suit under state consumer-protection law brought by a man whose car was towed away from his home […]

The Ninth Circuit’s En Banc Argument in Kilgore v. Keybank

An 11-judge en banc panel of the Ninth Circuit heard oral argument this week in Kilgore v. Keybank, an important consumer arbitration case. Kilgore presents the question whether the Federal Arbitration Act and the Supreme Court's decision in AT&T v. Concepcion require courts to enforce arbitration clauses even when they would block consumers from pursuing […]

Engel & Mccoy on Preemption After Dodd-Frank

Kathleen C. Engel of Suffolk Patricia A. McCoy of Connecticut have written Federal Preemption and Consumer Financial Protection: Past and Future, 3 Banking & Financial Services Policy Report 25 (2012).  Here is the abstract: Many states and cities filled the void by passing anti-predatory lending laws of their own. Lenders, worried about potential liability, quickly organized a […]