Outside Publication

True Lender Issues: One Step Forward, Two Steps Back?, The Journal of Structured Finance

Winter 2022

The Office of the Comptroller of the Currency’s true lender rule provided a uniform standard to determine when a national bank is acting as a lender when it partners with other service providers. But with Congress’s passing of the Congressional Review Act, which invalidated the rule, partners Reed Auerbach, Susan DiCicco, and David Monteiro contemplate in The Journal of Structured Finance whether the bank partnership model has taken one step forward and two steps back. In the article, they write about “true lender” issues, existing litigation and regulatory developments, and the implications following the rule’s nullification.

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