California Attorney General Challenges OCC Rule

January 7, 2021 – SACRAMENTO – California Attorney General Xavier Becerra on Tuesday joined a multistate lawsuit against the Office of the Comptroller of the Currency (OCC) challenging its “True Lender Rule.” The OCC’s rule facilitates predatory lending by allowing payday lenders, auto-title lenders and other non-bank entities to evade state limits on loan interest rates through sham “rent-a-bank” arrangements with national banks. Read the complete article here.