Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
The Wealth Effects of OCC Preemption Announcements After the Passage of the Georgia Fair Lending Act

The Wealth Effects of OCC Preemption Announcements After the Passage of the Georgia Fair Lending Act

Whalen, Gary

Paperback

General Reference

ISBN10: 1505299896
ISBN13: 9781505299892
Publisher: Createspace
Published: Dec 31 2014
Pages: 44
Weight: 0.28
Height: 0.09 Width: 8.50 Depth: 11.02
Language: English
Rapid growth in subprime lending over the past decade has led to rising concerns about abusivepractices by subprime lenders. By early 2004, those concerns prompted Georgia and more than 30 other states to pass laws designed to eliminate abusive or predatory lending practices by the financial services firms, including those with federal charters, operating within their boundaries. In 2003, the OCC concluded that federal law preempts the provisions of the Georgia Fair Lending Act (GFLA) that would otherwise affect national banks' real estate lending. In early 2004, the OCC adopted a final rule providing that state laws that regulate the terms of credit are preempted.

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