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Trades File Amici Re: ‘Valid-When-Made’ Principle

The Clearing House (TCH), the ABA, and the LSTA filed amicus briefs in the U.S. District Court for the District of Colorado in each of Cross River Bank’s and Web Bank’s declaratory judgment actions against the state of Colorado. The banks brought these cases against the state in connection with each of two cases initiated by the state against two marketplace lenders, Avant and Marlette, which partner with WebBank and Cross River Bank, respectively.  All four cases, involve the “valid-when-made” principle. 

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