Banking & Credit

Advocates Call for FDIC, under New Leadership, to Stop Banks from Fronting for Predatory Lenders

With a new chairman taking the helm of the Federal Deposit Insurance Corporation (FDIC), CFA joined with more than a dozen other organizations in calling for the FDIC to “stop permitting its supervised institutions to front for predatory lenders evading state interest rate limits.” The letter, linked here, is addressed to the FDIC’s Board of Directors: Acting FDIC Chairman Martin Gruenberg, Consumer Financial Protection Bureau Director Rohit Chopra, and Acting Comptroller of the Currency Michael Hsu.