For over a century, the "Valid When Made" rule has been a fundamental aspect of the financial services industry, benefiting both the industry and its customers. Over time, however, legislative and judicial actions by state policymakers and federal courts have challenged this rule. This has led to market uncertainty and disrupted long-standing federal regulatory policies.
A white paper created by AFSA and Wiley Rein LLP highlights the importance of maintaining the "Valid When Made" rule for consumer credit access. The document explains why recent efforts at the federal level have restored appropriate policies and brought necessary regulatory certainty under this rule.
The full white paper is available for those interested in understanding these developments further.