(Bloomberg) – A group of states led by New York has filed a lawsuit to block a Trump Administration rule that they claim would allow predatory lenders to circumvent state consumer protection laws and charge excessive interest.
Seven states and the District of Columbia sued the Office of the Comptroller of the Currency seeking to override the “true credit rule,” saying it allows lenders to partner with national banks to evade state usury laws. States called the rule “unprecedented and ill-conceived,” in a complaint filed Tuesday in federal court in Manhattan.
Nota Original:Trump Administration Is Sued by States Over Lending Rule
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