The U.S. Senate voted 52-47 to pass a Congressional Review Act (CRA) resolution to revoke the Office of the Comptroller of the Currency’s (OCC) “true lender” rule and forbid the agency from issuing similar regulations, with 49 Democrats and three Republicans supporting repeal. The three Republicans were Cynthia Lummis (Wyo.), Susan Collins (Maine), and Marco Rubio (Fla.). The resolution is expected to pass the U.S. House.
CDIA filed a comment in response to the OCC’s NPR.
Eric J. Ellman is Senior Vice President for Public Policy and Legal Affairs at the Consumer Data Industry Association (CDIA) in Washington, DC. He also served for eight months as Interim President and CEO of the Association. More