House to take big step on eliminating Trump-era rules

 

Source: Rachel Frazin, The Hill

Democrats will draw on the Congressional Review Act (CRA) to take aim at rules governing methane regulations, lending practices and employment discrimination cases.

The CRA resolution on lending would repeal a rule that allows lenders to offer loans at interest rates that exceed state limits if they team up with a federally chartered bank headquartered in a state with a higher cap.

Rebecca Borné, senior policy counsel with the Center for Responsible Lending, said that this week’s vote was a “pretty clear choice between protecting consumers from extremely predatory loans” or exposing them to such loans.

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