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OCC Proposed Rule Would Trample State Interest Rate Limits and Unleash Predatory Lending in all 50 States

September 3, 2020
Payday and Other Small Dollar Loans
Letters to Congress

More than 100 community, consumer, civil rights, and faith organizations wrote to vigorously oppose the OCC’s proposed rule to gut the longstanding "true lender" anti-evasion doctrine. The proposed rule would trample state interest rate limits and unleash predatory lending in all 50 states, further exacerbating the economic impacts already experienced by COVID-19.