NCLC and the Center for Responsible Lending submitted an amicus brief supporting the State of Colorado’s interpretation and enforcement of its law opting the state out of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA). The brief argues that a state that opts out of DIDMCA may enforce its interest rate laws against out-of-state, state-chartered banks in order to stop rent-a-bank lending and other high-cost loans that exceed state rate caps.
See all resources related to: Consumer Protection Regulation, High-Cost Credit