Showing the Latest Federal Deposit Insurance Corporation (FDIC) Results
At HFSC Hearing, Conservative Members Defend Rent-a-Bank Schemes After Taking Tons of Rent-a-Bank Money
It’s clear that some Committee Members are more worried over keeping the predatory lender money spigot open than the potentially billions of dollars consumers would save every year with a national interest rate cap.
McWilliams advanced a proposal to allow predatory lenders to sidestep state interest rate caps by funneling loans through chartered banks — a scheme known as “Rent-a-Bank.”
FDIC board members mired in conflicts of interest as they consider massive gift to big banks.