CLASS Network

CLASS Network Opposes OCC's Attempt to Preempt State Consumer Laws

Publish Date: 
September 3, 2020

Members of the Consumer Law Advocates, Students, and Scholars (CLASS) network submitted comments to the Office of the Comptroller of the Currency in response to its proposed rule that would allow nonbank lenders to avoid state law that currently protects many of these consumers. The rule will give new life to the “rent-a-charter” schemes that preyed on consumers in the early 2000s – schemes the OCC itself acted to eliminate.

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