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MoFo Reenforcement The Enforcement Blog

Attorneys General Push Against OCC’s Attempts to Codify “Valid When Made” Rule

Posted in Credit Cards, Regulatory Developments
On January 21, 2020, twenty-two State Attorneys General and the Hawaii Office of Consumer Protection submitted a comment letter to the Office of the Comptroller of the Currency in opposition to its proposed rulemaking to resolve the “confusion” stemming from the Second Circuit’s 2015 decision in Madden v. Midland Funding LLC.

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