State Attorneys General Challenge the OCC’s “True Lender” Rule
By EsqSocial Corporation 13/01/21
As LenderLaw Watch previously reported, the Office of the Comptroller of the Currency (OCC) issued its final rule on the True Lender doctrine in October 2020, addressing ambiguity in federal law and establishing that a national bank is the “true lender” of a loan when, as of the date of origination, (1) the bank is named as the lender to the loan agreement or (2) the bank funds the loan. This final “True Lender” rule, otherwise known as the Madden fix, encourages lending partnerships between...
By: Goodwin