Gavel to Gavel: Rules Proposed on Transferred Loans

The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. recently issued proposed rules in response to a U.S. Court of Appeals for the 2nd Circuit decision regarding the permissibility of rates charged on credit card debt. Banking & Financial Institutions Practice Group Member Kelly S. Kinser discusses the importance for entities purchasing debt instruments to factor in state law usury rulings into their purchasing decisions. More.