National Banks and Federal Savings Associations as Lenders

Title:
National Banks and Federal Savings Associations as Lenders
Subject: “True lender”
Agency: OCC
Status: Proposed rule
Summary:

The Office of the Comptroller of the Currency (OCC) is proposing a regulation to determine when a national bank or Federal savings association (bank) makes a loan and is the “true lender” in the context of a partnership between a bank and a third party, such as a marketplace lender. Under this proposal, a bank makes a loan if, as of the date of origination, it is named as the lender in the loan agreement or funds the loan.

FR Doc: 2020-15997
Date proposed: July 20, 2020
Comments due date:

Sept. 3, 2020

Final rule effective date:
Rule compliance date:
Agency release:

Office of the Comptroller of the Currency Issues Proposed True Lender Rule

Related Reg Report item(s):

Proposal would define ‘true lender’ to clarify relationships with third parties

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