Little more than a month after taking over at the Office of the Comptroller of the Currency (OCC), acting comptroller Brian Brooks announced the agency would propose a rule on defining the true lender in a transaction.
The move comes on the heels of the OCC issuing a rule finalizing the “valid when made” doctrine on Brooks’ first day at the helm.
Read on for details about how the OCC will determine who the true lender of a transaction will be.