Feds Want To Circumvent Predatory Lending Law. States Fight

Feds Want To Circumvent Predatory Lending Law. States Fight
California slams proposal that is new predatory loan providers to create very own rates of interest, ignore state legislation. 18 states get in on the fight SACRAMENTO – A new proposal that is federal exempt payday along with other high-cost loan providers from state usury regulations, letting them ignore state limitations and set their very own extortionate rates of inter...

Van Hollen, Senators Slam Regulators For ‘Rent-A-Bank’ Arrangement

Van Hollen, Senators Slam Regulators For ‘Rent-A-Bank’ Arrangement
Today, U.S. Senators Chris Van Hollen (D-MD), Sherrod Brown (D-OH), and four of these peers had written a page opposing a proposed guideline because of the workplace regarding the Comptroller for the Currency (OCC) therefore the Federal Deposit Insurance Corporation (FDIC) that may eviscerate state laws and regulations that limit the attention prices on loans and permit unre...