Recent Litigation
The August 2009 issue of Selling Prepaid E-Magazine is now online. Particularly noteworthy is a news capsule that mentions Bryan Cave LLP‘s successful representation of Green Dot Corp. in the matter of Every Penny Counts, Inc. v. American Express Company, et. al. (2008-1434).
Resolution was recently reached in an appeal for the U.S. Court of Appeals for the 8th Circuit in the matter of Deanthony Thomas et. al. v. U.S. Bank, National Association ND et. al. The court held that the Depository Institutions Deregulation and Monetary Control Act (DIDA), 12 USC @ Section 1831d does not preempt state law usury claims against a federally-insured state-chartered bank. Congress very clearly intended the preemptive scope of the DIDA to be limited to particular circumstances. The court reversed trial court and ordered the case to be remanded to state court for consideration under Missouri usury law.
