JACKSONVILLE FREE PRESS – “During an unprecedented economic downturn, brought on and exacerbated by COVID-19, the OCC seeks to expand the availability of exploitative loans that trap borrowers in a never-ending cycle of debt,” wrote the attorneys general. “We urge Congress to use its powers under the Congressional Review Act to invalidate the OCC’s True Lender Rule and safeguard the right of sovereign states, and the ability of an independent judiciary, to safeguard our citizens from rent-a-bank schemes designed to work end runs around essential consumer protections.”
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