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Home » Store » Taxable » Illinois Court Ruling Could Make Preemption Harder

Illinois Court Ruling Could Make Preemption Harder

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Attorneys are warning that a recent court ruling could make it harder for lenders to fend off state efforts to rein in abusive lending and restrict the business of subprime lenders. "The court’s reasoning, which we believe is seriously flawed, calls into question whether or not all or portions of state predatory lending statutes and regulations could be preempted under the [Alternative Mortgage Transaction] Parity Act," said law firm Kirkpatrick & Lockhart in an analysis
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