What Happens to Banks, Fintechs if OCC’s True Lender Rule Is Repealed?

The Senate voted last week to overturn the Office of the Comptroller of the Currency’s “true lender” rule establishing how and when national banks are considered the lender when a loan is sold. Hannah Lang and Brendan Pedersen, two reporters for American Banker, discuss the rule’s expected repeal and what it means for banks.