Receptor editing is a mode of immunological tolerance of B lymphocytes that involves antigen‐induced B‐cell receptor signaling and consequent secondary immunoglobulin light chain gene recombination. This ongoing rearrangement often changes B‐cell specificity for antigen, rendering the cell non‐autoreactive and sparing it from deletion. We currently believe that tolerance‐induced editing is limited to early stages in B‐cell development and that it is a major mechanism of tolerance, with a low‐affinity threshold and the potential to take place in virtually every developing B cell. The present review highlights the contributions from our laboratory over several years to elucidate these features.