Bipartisan legislation aimed at preserving consumer credit access by codifying the “valid-when-made” doctrine received support from 11 organizations representing numerous financial institutions, small businesses and entities specializing in financial technology and innovation.
The groups wrote a letter applauding four members of Congress for introducing H.R. 3299 and S. 1642 in the House and Senate, respectively. Both bills are known as the “Protecting Consumers’ Access to Credit Act of 2017.”
Learn more about what the proposed legislative pieces propose to do.