OCC Proposal Could Greenlight Predatory Lending Schemes

Broad coalition strongly rebukes proposed rule that would facilitate triple-digit interest “rent-a-bank” loans that evade state usury laws Washington, DC – A coalition of more than 100 organizations, including civil rights, consumer, faith, and small business groups, yesterday submitted a public comment in opposition to a proposed rule from the Office of the Comptroller of the Currency (OCC) that would …