Fintech in Brief: OCC Finalizes True Lender Regulation
By EsqSocial Corporation 29/10/20
On October 27, 2020, the Office of the Comptroller of the Currency (the “OCC” or the “Agency”) adopted a final “true lender” rule governing loans made under third-party relationships with nonbank entities, including fintechs, OCC-supervised national banks, and federal savings associations (collectively, “OCC Banks”). The true lender regulation was initially proposed on July 20, 2020…...
By: Nutter McClennen & Fish LLP