Who Supports Overturning the OCC’s “Fake Lender” Rule?

Across party lines, state attorneys general, banking regulators, credit unions, academic scholars, state legislators, faith leaders, and civil rights, consumer, disability rights, housing, labor, legal services, senior rights, small business, and veterans organizations agree that a bank’s mere name on a piece of paper should not allow predatory lenders to hide behind a fake lender in order to evade state usury laws.

Letter from 413 Organizations to Congress: Use the Congressional Review Act to Overturn OCC’s “Fake Lender” Rule

You can view or download the pdf to the letter here June 8, 2021 The Honorable Nancy PelosiSpeaker of the HouseU.S. House of Representatives Washington, D.C. 20515  The Honorable Chuck Schumer Majority LeaderUnited States Senate Washington, D.C. 20510  The Honorable Mitch McConnell Minority LeaderUnited States Senate Washington, D.C. 20510  The Honorable Kevin McCarthy Minority LeaderU.S. House of Representatives Washington, D.C. 20515  Re: Support CRA challenge to OCC …

Payday Reform News: August 13-19

Highlight: August 17, North Dallas Gazette: Faith Leaders Call for End to Abusive Payday Lending Practices This article summarizes the opinions of faith leaders on the CFPB rule regarding payday. The author mainly focuses on the faith leader’s joint criticism of the rules many loopholes. The author focuses on the 6-loan loophole for the majority of the article, as faith …