NCLC submitted testimony supporting Rhode Island S-2206, which opts Rhode Island out of interest rate exportation by out-of-state, state-chartered banks and prevents evasions by codifying the true lender doctrine.
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NCLC submitted testimony supporting Rhode Island H 7941, which exercises the state’s right under the Depository Institutions Deregulation and Monetary Control Act of 1980 to opt out of interest rate exportation by state-chartered banks. The bill will restore Rhode Island’s ability to apply its usury laws to prevent predatory rent-a-bank lending.
Read More about Testimony in Support of Rhode Island H 7941 Opting Out of DIDCMA