HOPE Submits Reviews Opposing OCC Real Lender

Please find underneath the reviews of this Hope Enterprise Corporation / Hope Credit Union/Hope Policy Institute (HOPE) as a result into the OCC Notice of Proposed Rulemaking, National Banks and Federal Savings Associations as Lenders, HOPE is a credit union, community development standard bank and policy institute that delivers affordable monetary solutions; leverages personal, public and philanthropic resources; and partcipates in policy analysis to satisfy its objective of strengthening communities, building assets, and increasing everyday lives in economically distressed areas throughout Alabama, Arkansas, Louisiana, Mississippi and Tennessee. During the last 25 years, HOPE has produced over $2.5 billion in financing which has benefited a lot more than 1.5 million people.

Because of the experiences of y our users, described herein, our company is worried that the OCC proposition will rather add to than alleviate, the burdens of high price financing within our area. In every five Deep South states, high expense loan providers, such as for example payday and vehicle name loan providers, happen to be saturating our communities. Continue reading →