Advocates Condemn FDIC Rule that Encourages Predatory High-Cost Loans through Rent-A-Bank Schemes

Advocates Condemn FDIC Rule that Encourages Predatory High-Cost Loans through Rent-A-Bank Schemes Ask Congress to Pass Federal 36% interest Cap Limit Washington, D.C. – customer advocates Center for Responsible Lending, nationwide customer Law Center, and People in america for Financial Reform Education Fund criticized the Federal Deposit Insurance Corporation (FDIC) for today finalizing a guideline that encourages online non-bank loan providers to launder their loans through banking institutions therefore the non-bank loan providers may charge triple-digit interest levels in states where high prices are unlawful. The OCC finalized the same guideline month that is last. The principles had been highly compared with a bipartisan number …

»
۹ شهریور ۱۳۹۹ ۰ دیدگاه