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Better Markets Issues Comment Letter on the OCC's True Lender Proposal

On Sept. 3, 2020, Better Markets filed a comment letter on a proposed rule from the Office of the Comptroller of the Currency (OCC) that would define when a bank can be considered the “true lender” in a loan transaction. If implemented, this proposal would make it easier for predatory lenders to evade state consumer protections with the help of a national bank.