SENATE VOTES TO OVERTURN OCC TRUE LENDER RULE

SENATE VOTES TO OVERTURN OCC TRUE LENDER RULE

On May 11, the U.S. Senate voted 52-47 to approve Senator Chris Van Hollen’s Congressional Review Act resolution of disapproval to invalidate the rule submitted by the OCC related to “National Banks and Federal Savings Associations as Lenders” (85 Fed. Reg. 6872 (October 30, 2020) (the “True Lender Rule”). Seeour Prior ALERT dated October 30, 2020 for further discussion of the True Lender Rule Read More