HomeWorld NewsOCC Prevails In Challenge To “Valid When Made” Rule – Finance and Banking

OCC Prevails In Challenge To “Valid When Made” Rule – Finance and Banking

  • February 11, 2022
  • Posted by: Bastion team
  • Category: World News
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United States:

OCC Prevails In Challenge To “Valid When Made” Rule

11 February 2022


Sheppard Mullin Richter & Hampton




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On February 8, the U.S. District Court for the Northern District
of California ruled against three states – California, Illinois,
and New York – challenging the OCC’s rule on the “valid
when made” doctrine. In 2020, the OCC issued a final rule codifying the
“valid when made” principle by clarifying that the
determination of whether interest on a loan is permissible is
determined when the loan is made and that a bank’s transfer of
a loan to a third party does not impact the validity or
enforceability…

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