OCC's 'True Lender' Plan Draws States' Ire, Industry Angst

By Jon Hill (September 11, 2020, 11:35 PM EDT) -- The Office of the Comptroller of the Currency's draft "true lender" rule governing bank financing partnerships is likely to face challenges from states and consumer advocates if it advances as written, and it may also throw a wrench into financing arrangements used by car dealerships and mortgage lenders, according to experts and public feedback on the plan....

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