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The Structured Finance Industry Group, Inc. ("SFIG") and SIFMA filed an amicus brief urging the U.S. Supreme Court to grant certiorari and reverse a Second Circuit ruling that the application of state usury laws to third-party assignees is not preempted by the National Bank Act . In Midland Funding and Midland Credit Management, Inc. v. Saliha Madden , the lead plaintiff defaulted on a credit card loan made by a national bank. The loan was then sold to a collection company that raised the rate on the loan to 27% per annum, which rose above the permitted rate in New York of 25% per annum. The