National Banks and Federal Savings Associations as Lenders
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.
|Date proposed:||July 20, 2020|
|Comments due date:||
Sept. 3, 2020
|Final rule effective date:|
|Rule compliance date:|
|Related Reg Report item(s):|