Courts and Policymakers Get It Right

For more than a hundred years the “Valid When Made” rule served the financial services industry, as well as its customers, well. However over the years state policymakers and the federal courts have taken legislative and judicial steps that undercut the “Valid When Made” rule, creating uncertainty in the market and undercutting well-established federal regulatory policies.

A white paper developed by AFSA and Wiley Rein LLP succinctly lays out why the “Valid When Made” rule remains a crucial cornerstone for consumer credit accessibility and why recent federal regulatory efforts and federal judicial rulings have returned appropriate policies and much-needed regulatory certainty under the “Valid When Made: rule. You can read the full white paper here.