In The Press September 28, 2020

States Challenge FDIC “Valid When Made” Rule With New Lawsuit (Westlaw)

On August 20, 2020, seven states – California, Illinois, Massachusetts, Minnesota, New Jersey, New York, and North Carolina – and the District of Columbia (together, the States) filed suit against the Federal Deposit Insurance Corporation (FDIC) in the U.S. District Court for the Northern District of California. The lawsuit, captioned People of the State of California, et al. v. FDIC, Case No. 20-CV-5860, challenges the FDIC’s Rule on the “valid when made” doctrine analyzes Patrice Hendriksen, an associate in Goodwin’s Financial Industry group and Consumer Financial Services Litigation practice. Read the by-line in Westlaw here.