The Senate Tuesday approved a resolution to overturn the Office of the Comptroller of the Currency’s true lender rule using the Congressional Review Act (CRA). The resolution now heads to the House for consideration.
Under the CRA, legislators can vote to overrule new federal regulations with a joint resolution of disapproval within 60 legislative days after regulators have submitted the rule to Congress. The true lender rule took effect in December 2020.
Ahead of the Senate’s vote, NAFCU Vice President of Legislative Affairs Brad Thaler reiterated the association’s concerns with the OCC’s rule, arguing that it promotes predatory lending practices.
NAFCU raises rent-a-bank, fintech chartering concerns
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NAFCU s Thaler calls on Senate Banking Committee to consider necessary CU tools
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Join NAFCU leaders for updates on key industry issues
NAFCU President and CEO Dan Berger and other association leaders will provide member credit unions with a review of the first few months of 2021 during NAFCU’s Q1 Member Webinar. New to the webinar this quarter, NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt will lead a panel discussion with NAFCU’s experts as they tackle topics ranging from the association’s latest advocacy efforts on Capitol Hill and with regulators, the Small Business Administration’s paycheck protection program, and new federal-level leadership.
During the webinar, Berger and Hunt will be joined by:
NAFCU urges for House support of MBL relief
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