CBA on OCC “Valid When Made” Final Rule

Allison Heimberg

CBA on OCC “Valid When Made” Final Rule

 

 

WASHINGTON, D.C. – The Consumer Bankers Association today released the following statement after the Office of the Comptroller of the Currency issued a final rule clarifying the “valid when made” standard on the sale and purchase of loans:

 

“CBA appreciates the OCC’s efforts to clarify years of uncertainty caused by the Madden case,” said CBA President and CEO Richard Hunt.

 

“The final rule is a positive development and will allow the nation’s banks to further fulfill the needs of consumers and continue operating in a safe and sound manner.”

 

 

 

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About the Consumer Bankers Association:

The Consumer Bankers Association represents America’s leading retail banks. We promote policies to create a stronger industry and economy. Established in 1919, CBA’s corporate member institutions account for 1.7 million jobs in America, extend roughly $4 trillion in consumer loans and provide $275 billion in small business loans annually. Follow us on Twitter @consumerbankers.