February 08, 2022
A California federal judge Tuesday rejected an effort by California, New York and Illinois to block the Office of the Comptroller of the Currency's valid-when-made rule, which the agency asserted was an attempt to mitigate legal uncertainty surrounding interest rate transferability, saying the rule is not arbitrary.
January 15, 2021
The Office of the Comptroller of the Currency has urged a California federal court to reject an effort by California and two other states to block the agency's valid-when-made rule, arguing the rule was well within bounds as an attempt to mitigate legal uncertainty surrounding interest rate transferability.
December 11, 2020
State attorneys general challenging the Office of the Comptroller of the Currency's valid-when-made rule have entered a bid for judgment in their California federal court case against the agency, arguing the rule is a deeply flawed product that should be struck down.
July 29, 2020
New York, California and Illinois sued the Office of the Comptroller of the Currency on Wednesday over its valid-when-made rule, saying the recently promulgated rule would "dramatically expand" federal preemption and be a boon to predatory lenders seeking to skirt state interest rate caps.