A trade group for companies offering loans online is asking the Office of the Comptroller of the Currency to require public reporting of customer account terminations.
In the letter, the Online Lenders Alliance applauded the president’s August executive order requiring banks to end “debanking,” a term for what critics characterize as a regulatory initiative under former President Biden that pressured banks to deny right-leaning organizations banking access. Former Biden regulators have denied that any such initiative existed.
Read the full article in American Banker
