TAB Bank, Facilitator of Predatory Puppy Loans, Gets Rating Downgraded by FDIC
Consumer Advocates Urged FDIC to Downgrade the Bank’s CRA Rating Over its Triple-Digit Interest Rate Rent-a-Bank Loans, Deceptive Marketing WASHINGTON – Late last week, the Federal Deposit Insurance Corporation (FDIC) made public that it has downgraded the Community Reinvestment Act (CRA) performance rating of Transportation Alliance Bank (TAB Bank) to “needs to improve,” a low rating that few banks get . The FDIC found that the Utah-based bank committed unfair or deceptive acts or practices that “impacted a large number of consumers over an extended period of time." Consumer advocates had