New York State Attorney General Letitia James in April. Photo: Diego M. Radzinschi/ALM NY AG James Sues in Challenge to Trump Administration's 'True Lender' Rule
The civil complaint alleged that the rule was rushed out one week before the November presidential election, in a bid to "unilaterally rewrite federal and constitutional law" in order to favor national banks and lenders.
January 05, 2021 at 04:49 PM
3 minute read
New York Attorney General Letitia James on Tuesday announced she is leading a coalition of eight states in suing the Office of the Comptroller of Currency over a new rule that she said would facilitate predatory lending by allowing banks and third-party lenders to work around state laws meant to prevent excessive interest rates.
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