On Friday, October 4, SFA, jointly with BPI, served a joint amicus brief on the parties in Cohen v. Capital One, a case that was filed in the U.S. District Court for the Eastern District of New York on June 12, 2019. The amicus brief will be filed on the court docket once all briefing on the defendants’ motion to dismiss is complete on November 1. Our brief will be accepted as Judge Matsumoto of the Eastern District of New York previously granted amici leave to file a brief on September 10, 2019. The brief cites SFA members’ substantial interest in the case, addresses the importance of securitization funding, federal preemption of state law under the National Bank Act, and the potential negative impact on lending markets of an adverse ruling in favor of plaintiffs in Cohen.
If you would like to join SFA’s Valid-When-Made Task Force, please contact [email protected].