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Federal Preemption of State Consumer Protection Laws: The Office of the Comptroller of the Currency’s Dodd-Frank Act Implementation Rules

By:
 Melanie Berdecia and Dylan Aluise under supervision of Howell Jackson   Published: August 2017
Product number:
CSP024
Length:
75 Pages
English:
PDF
Product Type:
Workshop-Based Case Study

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 Abstract

Federal Preemption of State Consumer Protection Laws: The Office of the Comptroller of the Currency’s Dodd-Frank Act Implementation Rules (“Preemption”) illustrates federal preemption of state consumer protection laws where state and federal laws governing consumer protection conflict. Participants act as general counsel for a non-profit consumer advocacy group involved in a class action suit against a national bank.  The non-profit organization alleges that the national bank violated mandatory disclosure laws in its solicitation of tax refund anticipation loans. The outcome of the case turns on whether the Office of the Comptroller of Currency’s standard for preemption applies to a situation where a state law requires national banks to disclose more than federal law requires. Students are asked to examine the arguments for and against preemption to determine the best course of action for resolving the class action suit.   This case study is used in a simulation course on Financial Regulation and is helpful as a practical, hands-on component to a financial regulations or administrative law course.

Learning Objectives

  • Examine preemption standards and apply those standards to a practical scenario.
  • In applying those standards, students will assess the arguments for and against preemption and determine the best strategy for the organizational client’s class action lawsuit.
  • Practice presentation and legal writing skills

Subjects Covered

Financial Regulation, Finance and Banking, Government, Dodd-Frank Act, preemption, consumer protection, Office of the Comptroller of the Currency guidance, tax refund anticipation loans, conflict of laws, federal vs. state regulation

Setting

Geographic: US

Industry: Financial Services

Event Year Begin: 2016

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