Holland & Hart Commercial Finance partner Tim Crisp was quoted in Law Week Colorado’s Jan. 25 article entitled, “Colorado Among States to Sue over True Lender Rule.” Colorado joined a half dozen other states and the District of Columbia in suing the Office of the Comptroller of the Currency earlier in January 2021 over a new rule they say undermines state usury laws. AGs are saying the rule violates administrative law and enables predatory lending, banking regulators say the rule offers clarity for “innovative” lending partnerships. Crisp joins in the discussion and shares that “partnerships between national banks and fintech or consumer finance companies are relatively new,” and adds “there’s real money at stake. And real public policy issues at stake for the states as well as the federal government.”
Click here to read a summary of the Law Week Colorado Jan. 25 article: Colorado Among States to Sue over True Lender Rule.