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SACRAMENTO, Calif.—A California federal court has upheld the Office of the Comptroller of the Currency’s (OCC) 2020 rule clarifying that the interest rate on a loan made by a bank will still be valid after it’s sold to a nonbank, also referred to as the “valid-when-made” rule.

WASHINGTON—The credit union difference means “billions in savings for members, hundreds of billions in economic impact, and hundreds of thousands of jobs supported just last year,” CUNA Chief Advocacy Officer Ryan Donovan wrote to all 535 Congressional offices.

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Amy Brown