Congress Uses Congressional Review to Overturn OCC’s True Lender Rule
By EsqSocial Corporation 25/06/21
On June 24, the House of Representatives, like the Senate on May 11, voted to overturn the Office of the Comptroller of Currency’s (OCC) “True Lender Rule” that was finalized in October 2020. The Senate initiated the process under the Congressional Review Act (CRA), and President Biden is expected to sign the resolution to complete the process. This is only the second time during the current term that Congress deployed such a tactic against the previous administration....
By: Troutman Pepper