October 28, 2020

worldtibetday

Advocacy. Mediation. Success.

New York, California and Illinois Sue OCC to Block “Valid When Made” Rule

Just two months in the past, the Business of Comptroller of the Forex (“OCC”) tackled the “valid when made” doctrine and held that curiosity rates proven on lender-originated loans stay valid even just after the personal loan is transferred to a non-lender companion. On July 29, the lawyers standard of New York, California, and Illinois sued the OCC alleging federal overreach that undermines condition-preemption pertaining to usury charge caps….
By: Bryan Cave Leighton Paisner