Mich. A.G. Nessel Criticizes Proposal That Would Allow Predatory Lenders to Take Advantage of Consumers
January 28, 2020
January 28, 2020
LANSING, Michigan, Jan. 28 -- Michigan Attorney General Dana Nessel issued the following news release:
Michigan Attorney General Dana Nessel last week joined 21 other Attorneys General in opposing a proposal by the Office of the Comptroller of the Currency (OCC) to exempt entities that are not national banks (including payday and other high-cost lenders) from state usury laws. Usury laws prevent predatory lenders from taking advantage of consumers by limiting the interest rates that . . .
Michigan Attorney General Dana Nessel last week joined 21 other Attorneys General in opposing a proposal by the Office of the Comptroller of the Currency (OCC) to exempt entities that are not national banks (including payday and other high-cost lenders) from state usury laws. Usury laws prevent predatory lenders from taking advantage of consumers by limiting the interest rates that . . .