NPR: Former banker, now regulator wants to allow banks to make payday-style loans
NPR, June 14, 2018: Former banker, now regulator wants to allow banks to make payday-style loans
But Jesse Van Tol, the CEO of the National Community Reinvestment Coalition, said he’s worried that Otting appears to be trying to make it easier for banks to meet CRA requirements.
“We’re concerned that the OCC wants to water down the rules,” Van Tol said. “Regulators should be working to set and enforce rules that solve the problem of discrimination in lending …, not working to make life easier for banks who are enjoying record profits.”