With 'True Lender' Repeal, Dems May Bag Their 1st CRA Win

Law360 (April 16, 2021, 6:25 PM EDT) -- Now that Congress has come back from its spring break, Democratic lawmakers have a chance to advance their efforts to shoot down a Trump administration regulation that they say empowers predatory lenders, but other late Trump-era financial services rules will be out of reach for quick repeal.

The U.S. House and Senate are set to consider companion resolutions that take aim at the Office of the Comptroller of the Currency's "true lender" rule, which sought to provide legal certainty for bank-fintech lending partnerships in a way that consumer advocates have strongly opposed.

Introduced late last month, the resolutions would invoke the...

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