OCC Preemption of State Predatory Laws Extends to Non-Bank Buyers and Assignees, S&P Finds
February 27, 2004
OCC Preemption of State Predatory Laws Extends to Non-Bank Buyers and Assignees, S&P Finds Loans originated by national banks in several states that have enacted predatory lending laws can be included in securitization pools without penalty – even if they are sold to a non-bank lender. That was the somewhat controversial message delivered by Standard and Poor’s this week in new criteria on loans subject to a preemption rule issued by the Office of the