A handful of national banks essentially rented out their charters to third party payday lenders. The OCC found a number of abuses in these relationships. Of primary concern was the inability of small banks to properly oversee the third parties who were making loans in their names. Among the abuses: deceptive marketing practices, failure to secure confidential customer files, unsafe and unsound lending. The OCC took a series of enforcement actions that eliminated these relationships from the national banking system.

01/31/2003 Peoples National Bank to Pay $175,000 Civil Money Penalty And End Payday Lending Relationship with Advance America		News Release 2003-06 Consent Order - Peoples National Bank Consent Order - Advance America
01/21/2003 OCC Concludes Case Against First National Bank in Brookings Involving Payday Lending, Unsafe Merchant Processing, and Deceptive Marketing of Credit Cards		Release 2003-03 Consent Order
10/29/2002 OCC Takes Action Against ACE Cash Express, Inc. and Goleta National Bank	News Release 2002-85	WORD ASCII
	Goleta Stipulation	PDF
	Goleta Consent Order	PDF
	ACE Stipulation	PDF
	ACE Consent Order	PDF
03/18/2002 OCC Files Notice of Charges Against People's National Bank of Paris, Texas	News Release 2002-26	WORD ASCII
	Notice of Charges	WORD ASCII
01/03/2002 OCC Orders Eagle to Cease Payday Lending Program	News Release 2002-26	WORD ASCII
	Fact Sheet	WORD ASCII
	Consent Order	PDF
Interagency Statement
11/27/2000 Agencies Urge Banks and Thrifts to Evaluate Risks with Vendors Engaged In Practices Viewed as Abusive To Consumers	News Release 2000-88	WORD ASCII
	Statement	WORD ASCII
	Advisory letter on payday lending	WORD ASCII
	Advisory letter on title loans	WORD ASCII

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