Bank Charters Archives

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Nearly 140 Scholars Call for Congressional Repeal of “True Lender” Rule

April 20, 2021

FOR IMMEDIATE RELEASE: April 20, 2021 OCC Rule Usurps Role States Have Had Since Founding of the Nation in Protecting Families from Usurious Lending A group of 138 scholars, including professors of banking law and consumer finance regulation, from 43 states and the District of Columbia sent a letter today to Congress urging it to…

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Letter to the OCC Regarding Oportun’s New Bank Charter Application

December 22, 2020

Community, consumer, and civil rights organizations write to express serious concerns about Oportun’s application to the Office of the Comptroller of the Currency (OCC) for a national bank charter.

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Consumer Advocates: New Rule from FDIC on Industrial Loan Companies is a Gift to Predatory Lenders

December 15, 2020

FOR IMMEDIATE RELEASE: December 15, 2020 FDIC rule makes it easier for lenders to exploit more financially vulnerable families WASHINGTON, D.C. – Today, the Federal Deposit Insurance Corporation (FDIC) approved a new final rule to facilitate chartering additional under-regulated Industrial Loan Companies (ILCs). The FDIC rule will encourage non-bank companies to acquire banks or seek…

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Letter to the OCC Regarding Formative Bank, N.A. Interagency Charter and Federal Deposit Insurance Application

September 23, 2020

Comment from the National Community Reinvestment Coalition, the National Consumer Law Center® and the Center for Responsible Lending on the pending application from Formative Bank for a de novo charter and deposit insurance.

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“True Lender” Rule Would Help Fraudulent, Predatory Lenders Evade State Interest Rate Laws that Protect Families

September 3, 2020

The timing of the OCC’s embrace of predatory lenders could not be worse We are in the midst of an unprecedented health crisis and a severe economic crisis, with both crises impacting communities of color more heavily than white communities WASHINGTON, D.C. – A proposal by the regulator of the nation’s largest banks would…

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Amicus Brief Opposes OCC Charter That Would Aid Predatory Lenders

July 31, 2020

For Immediate Release: July 31, 2020 WASHINGTON, D.C. – The National Consumer Law Center, Center for Responsible Lending, and the National Community Reinvestment Coalition filed an amicus brief in Lacewell v. Office of the Comptroller of the Currency (OCC), in support of the plaintiff, the New York State Department of Financial Services (DFS), against the OCC’s plan…

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Nearly 140 Scholars Call for Congressional Repeal of “True Lender” Rule

Letter to the OCC Regarding Oportun’s New Bank Charter Application

Consumer Advocates: New Rule from FDIC on Industrial Loan Companies is a Gift to Predatory Lenders

Letter to the OCC Regarding Formative Bank, N.A. Interagency Charter and Federal Deposit Insurance Application

“True Lender” Rule Would Help Fraudulent, Predatory Lenders Evade State Interest Rate Laws that Protect Families

Amicus Brief Opposes OCC Charter That Would Aid Predatory Lenders

Support NCLC