Attorney General Becerra Condemns OCC Proposal to start the Floodgates for Predatory Lending and Rent-a-Bank Schemes SACRAMENTOВ “ California Attorney General Xavier Becerra today, joining a coalition of 24 solicitors general, presented a remark page opposing any office associated with Comptroller for the Currency ™s (OCC) proposed real Lender ќ Rule (Proposed guideline). This ruleВ would permit predatory financing byВ allowing non-bankВ loan providers to ignore state interest-rate caps on consumerВ loansВ just by partnering with nationalВ banking institutions, whichВ areВ exemptВ under federal legislationВ from state interest-rate caps.В TheseВ partnershipsВ areВ called "rent-a-bank"В schemesВ in addition to OCC's Proposed Rule would makeВ themВ legal.В this really is just one more attemptВ that is blatant the Trump management to let predatory lendersВ ignoreВ state legislation that
