Center for Responsible Lending: Advocates Urge FDIC, OCC, Federal Reserve to Stop Banks From Helping Payday Lenders Evade State Interest Rate Limits
November 07, 2019
November 07, 2019
DURHAM, North Carolina, Nov. 7 -- The Center for Responsible Lending issued the following news release:
A coalition of 61 consumer, civil rights, and community groups today sent letters to three federal bank regulators urging them not to allow their banks to help payday lenders evade state interest rate limits. The groups sent separate letters to the Federal Deposit Insurance Corp. (FDIC), which regulates the only banks currently involved in rent-a-bank schemes; the Office of the Co . . .
A coalition of 61 consumer, civil rights, and community groups today sent letters to three federal bank regulators urging them not to allow their banks to help payday lenders evade state interest rate limits. The groups sent separate letters to the Federal Deposit Insurance Corp. (FDIC), which regulates the only banks currently involved in rent-a-bank schemes; the Office of the Co . . .