Attorney General Josh Stein Condemns Federal Proposal that could Allow Predatory Lenders to Exploit Consumers

For Immediate Launch: Thursday, February 6, 2020 (RALEIGH) Attorney General Josh Stein opposed a proposition because of the Federal Deposit Insurance Corporation (FDIC) to preempt state guidelines that regulate payday along with other high-cost financing. The FDIC’s proposed laws would let predatory lenders state that is circumvent through “rent-a-bank” schemes, by which banking institutions behave … Continued