Jeffrey P. Naimon extensively quoted in Bobsguide article, “Bank-fintech relationships in the dark until US election results declared”
BobsguideJeffrey P. Naimon
Jeffrey P. Naimon was extensively quoted on November 3, 2020, in a Bobsguide article, “Bank-fintech relationships in the dark until US election results declared,” which discussed the Office of the Comptroller of the Currency’s true lender rule for bank-nonbank lending relationships that could face Congressional Review following the U.S. election results.
Naimon noted, “What advocates want is not to have an OCC rule that’s simple and clear – they want it to be complicated because they want lenders and then purchasers of loans, the secondary market, to be worried that there’s a big risk that the loans aren’t enforceable. Their goal is to say ‘no, you aren’t operating under the OCC’s rules, you’re operating under 50 state rules.’”