In May 2021, we reported that the U.S. Senate had passed a joint resolution declaring the OCC’s “true lender” rule invalid. That resolution has since been passed by the House and, on June 30, 2021, was signed by President Biden.

In the first of four rankings to be released, IFLR1000, the guide to the world's leading financial and corporate law firms and lawyers, has ranked Tucker Ellis in its 31st edition in the area of Banking (United States Regional: Ohio). 

Beginning January 1, 2022, a limited liability company formed in Ohio can be organized as a series LLC.

The latest development in the saga of the “valid-when-made” debate came on May 11, 2021, when the Senate passed a joint resolution declaring the OCC’s "true lender" rule invalid.

On August 20, 2020, state attorneys general sued the Federal Deposit Insurance Corporation to invalidate the FDIC’s new rule that mirrors the Office of the Comptroller of the Currency's "valid-when-made" rule.

In late May, the Office of the Comptroller of the Currency adopted a rule that allows transferees of loans from national banks to rely on federal law that preempts state laws limiting legal interest rates.

By a rule it adopted on May 29, 2020, the Office of the Comptroller of the Currency attempts to resolve a national dispute about the legality of interest rates on loans after the loans are sold by a national bank or a federal savings association.