By Charlene Crowell /TriceEdneyWire.com – (Source: www.capitaloutlook.com) – Last October during the throes of the COVID-19 pandemic and its rippling economic downturns, a key federal financial regulator adopted a rule that blesses the “rent-a-bank” scheme where predatory lenders partner with banks to evade state interest rate limits. Known as the “True Lender” rule, the Office of the Comptroller of the Currency (OCC) gave a green light to predatory lenders. It effectively overrides a string of laws in almost every state enacted to end abusive payday, car-title, and installment loans with explosive interest rates of more than 100 percent. Rev. Frederick Haynes […]

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