Attorney General Becerra Challenges OCC Rule That Facilitates Predatory Lending Schemes

SACRAMENTO – California Attorney General Xavier Becerra today joined a multistate lawsuit from the workplace for the Comptroller regarding the Currency (OCC) challenging its Lender that is “True Rule

The OCCРІР‚в„ўs rule facilitates lending that is predatory enabling payday loan providers, auto-title loan providers as well as other non-bank entities to evade state limitations on loan interest levels through sham “rent-a-bank” plans with nationwide banking institutions. (more…)