NAFCU Vice President of Legislative Affairs Brad Thaler Monday called on senators to support a resolution to use the Congressional Review Act to nullify the Office of the Comptroller of the Currency’s true lender rule. The chamber could vote on the resolution this week.
The true lender rule allows banks and federal savings and loan companies to provide their charter to online lenders so they can deliver high-cost loans with annual rates over 100 percent, evading state consumer protections and usury caps and promoting predatory payday lending. Several states have filed suit against the OCC to try to overturn the rule.
NAFCU raises rent-a-bank, fintech chartering concerns
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NAFCU s Thaler calls on Senate Banking Committee to consider necessary CU tools
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Join NAFCU leaders for updates on key industry issues
NAFCU President and CEO Dan Berger and other association leaders will provide member credit unions with a review of the first few months of 2021 during NAFCU’s Q1 Member Webinar. New to the webinar this quarter, NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt will lead a panel discussion with NAFCU’s experts as they tackle topics ranging from the association’s latest advocacy efforts on Capitol Hill and with regulators, the Small Business Administration’s paycheck protection program, and new federal-level leadership.
During the webinar, Berger and Hunt will be joined by: