OppFi files complaint to block “true lender” challenge by California Department of Financial Protection and Innovation
CFPB Monitor
MARCH 15, 2022
The rules provide that a loan made by a national bank, federal savings association, or federally-insured state-chartered bank that is permissible under applicable federal law (Section 85 of the National Bank Act (NBA) or Section 27 of the Federal Deposit Insurance Act (FDIA)) is not affected by the sale, assignment, or other transfer of the loan.
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