Supreme Court agrees to decide if federal banking laws supersede state banking laws

The Supreme Court has agreed to consider whether a federal banking law preempts a New York state law that compels banks to pay interest on mortgage escrow accounts. The case comes at a time of turmoil in the mortgage markets. Mortgage loan borrowing costs soared earlier this month to their highest point in 23 years. The average rate for 30-year mortgages has risen to 7.57 percent, which is more than double what it was two years ago. This is the highest level since Dec. 1, 2000, when the 30-year mortgage rate was at an average of 7.65 percent. At the same time, … Continue reading Supreme Court agrees to decide if federal banking laws supersede state banking laws

Supreme Court schedules arguments in OxyContin maker bankruptcy and wealth tax cases

The Supreme Court has scheduled several high-profile cases for oral argument in late November and early December. One is about a wealth tax on capital gains never received, and another challenges a securities law enforcer’s power to use in-house judges to try accused people. Seven cases in all were scheduled for hearing dates running from Nov. 27 through Dec. 6 by the court on Oct. 12. Other cases involve the bankruptcy of the company that makes OxyContin, hardship claims in the deportation process, and criminal appeals. For the court to hear a case, at least four of the nine justices … Continue reading Supreme Court schedules arguments in OxyContin maker bankruptcy and wealth tax cases

Republicans tell Supreme Court congressional district was drawn based on politics, not race

Republican state lawmakers told the Supreme Court on Oct. 11 that the justices should overturn a ruling that the South Carolina legislature racially gerrymandered a congressional district because lawmakers used political, not racial, data to justify the redrawn map. The … Continue reading Republicans tell Supreme Court congressional district was drawn based on politics, not race

Supreme Court to hear case of Texas farmer flooded by highway project

The Supreme Court has agreed to hear the appeal of a Texas farmer who is suing his state’s transportation department for damaging his family’s farm. The petition in Devillier v. Texas (court file 22-913) was granted on Sept. 29 in an unsigned order. No justices dissented. The court did not explain its decision. At least four of the nine justices have to vote to hear a case in order for it to move forward. Richie Devillier sued the Texas Department of Transportation in 2020 after a concrete barrier was installed on a highway that caused serious flooding on his property. … Continue reading Supreme Court to hear case of Texas farmer flooded by highway project

Supreme Court hears case of serial lawsuit filer’s actions over disability information

The Supreme Court considered on Oct. 4 the case of a serial lawsuit filer who has sued more than 600 hotels over their alleged failure to post disability accessibility information on their websites without intending to actually patronize the hotels. … Continue reading Supreme Court hears case of serial lawsuit filer’s actions over disability information

Lenders urge Supreme Court to strike down Consumer Financial Protection Bureau

The payday lending industry urged the U.S. Supreme Court to strike down the Consumer Financial Protection Bureau (CFPB), arguing that the unorthodox scheme that Congress authorized to fund the powerful regulator is unconstitutional. This appeal gives the court’s 6–3 conservative … Continue reading Lenders urge Supreme Court to strike down Consumer Financial Protection Bureau