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Network news & Updates

Appleseed Centers speak out against predatory lending proposal

9/9/2020

 
​Dear Friends,

Last week, Appleseed Centers in Texas, Nebraska, and New Jersey submitted a joint comment letter to the US Comptroller of the Currency to speak out against a recently proposed rule. As the letter documents, the proposed rule would allow predatory lenders to escape rate cap laws, as well as liability for violations of federal and state consumer protection laws, by participating in “rent-a-bank” schemes. Borrowers can get trapped in these predatory loans, often paying extremely high interest rates and taking on more and more loans to extend the interest payments.

Please click here to read the letter from Texas, Nebraska, and New Jersey Appleseed, which was prepared with the pro bono assistance of Fish & Richardson P.C.
 
Sincerely,
Sarah Pacilio
Appleseed Network Manager


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  • Home
  • Meet the Network
    • Our History
    • Centers >
      • View All Centers
      • Alabama
      • Chicago
      • DC
      • Georgia
      • Hawai’i
      • Kansas
      • Louisiana
      • Massachusetts
      • Mexico
      • Missouri
      • Nebraska
      • New Jersey
      • New Mexico
      • New York
      • South Carolina
      • Texas
  • Connect with the Appleseed Foundation
    • Staff
    • Board of Directors
    • Pro Bono Partners
    • Join our Email List
    • Events >
      • Pillars of Justice - 25th Anniversary Event
    • Immigration Resources and Reform >
      • Protecting Assets and Child Custody in the Face of Deportation
      • Protección de los bienes y la custodia del niño al frente de la deportación
      • Remittances and Financial Regulations
    • The Bold Idea Partnership
  • Network News & Updates
  • Donate