Date: October 31, 2020 

On October 27, 2020, the Office of the Comptroller of the Currency (OCC) issued its final “True Lender Rule.” As described in our original article found here the rule is intended to address when a national bank or federal savings association (each a “bank”) should be deemed a “true lender” of a loan.

By Anthony Santoriello

We wanted to create a resource to help answer some of the most commonly asked questions we receive from clients regarding the right entity structure for them.

Written July 24, 2020, updated September 20, 2020         

On July 20, 2020, the Office of the Comptroller of the Currency (OCC) issued a proposed rule that would address when a national bank or federal savings association (each a “bank”) should be deemed a “true lender” of a loan. Under the proposed rule, a bank makes a loan if, as of the date of origination, it is named as the lender in the loan agreement or funds the loan. Regardless of its final form, if passed the rule will have material effects on banks and those third parties that partner with banks.