OCC Issues Rule to Clarify Permissible Interest on Transferred Loans

The Office of the Comptroller of the Currency (OCC) today finalized a rule to clarify that when a national bank or savings association sells, assigns, or otherwise transfers a loan, interest permissible before the transfer continues to be permissible a…

The Office of the Comptroller of the Currency (OCC) today finalized a rule to clarify that when a national bank or savings association sells, assigns, or otherwise transfers a loan, interest permissible before the transfer continues to be permissible after the transfer.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-71.html

Acting Comptroller of the Currency Statement Regarding the ‘Madden’ Rule

Acting Comptroller of the Currency Brian P. Brooks today released the following statement regarding the Office of the Comptroller of the Currency’s (OCC) final rule to clarify that when a national bank or savings association sells, assigns, or otherwis…

Acting Comptroller of the Currency Brian P. Brooks today released the following statement regarding the Office of the Comptroller of the Currency's (OCC) final rule to clarify that when a national bank or savings association sells, assigns, or otherwise transfers a loan, interest permissible before the transfer continues to be permissible after the transfer.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-72.html