Bank Charters Archives

Group Comments Calling on FDIC to Reject Ford Credit’s ILC Charter Application

August 24, 2022

Comments from the National Community Reinvestment Coalition, the National Consumer Law Center, the Americans for Financial Reform Education Fund, and the Center for Responsible Lending re: Interagency Charter and Federal Deposit Insurance Application for Ford Credit Bank, a Utah State-Chartered Industrial Bank, Submitted to the Federal Deposit Insurance Corporation and the Utah Department of Financial…

Banking, Payments, & Remittances

Letter to FDIC Regarding Change in Control, KMD Partners, LLC to Acquire Liberty Bank, Inc.

August 24, 2021

We ask the FDIC not to approve the application from KMD Partners, LLC to acquire Liberty Bank, Inc. (Salt Lake City, Utah), including acquiring control of the bank. The change in control presents three fundamental problems: First, Liberty Bank has itself demonstrated a poor record of meeting its community reinvestment obligations. Second, KMD Partners is…

National Consumer Law Center Advocates Praise U.S. House Vote to Repeal National Banking Regulator’s Predatory Lending Rule

June 24, 2021

OCC Rule Protects High-Cost Lenders that use Rent-a-Bank Schemes to Evade State Interest Rate Laws Washington, D.C. – Advocates at the National Consumer Law Center applaud the U.S. House vote to overturn the OCC’s “fake lender” rule, which allows predatory lenders to evade state interest rate laws by putting a federally-chartered bank’s name on the paperwork. The…

New Bank Regulator Leadership Welcome; Congress Still Must Roll Back Rule Promoting Predatory Lending

May 5, 2021

For Immediate Release: May 5, 2021 Washington, DC – Advocates welcomed reports that Treasury Secretary Janet Yellen plans to appoint a new acting head of the Office of the Comptroller of the Currency (OCC), replacing Blake Paulson, in light of the highly deceptive and false claims that the agency, under Paulson’s leadership, put forward as…

Credit Union Regulator Must Not Facilitate Predatory Lending, Groups Say in Comment Letter

May 3, 2021

FOR IMMEDIATE RELEASE: May 3, 2021 WASHINGTON, D.C. – Credit unions and advocates registered their strong opposition to a proposal by the National Credit Union Administration (NCUA) that would allow credit union subsidiaries to engage in predatory lending that is explicitly illegal for federal credit unions. The proposal by NCUA, which regulates credit unions across…

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