New York Attorney General Letitia James on Tuesday announced she is leading a coalition of eight states in suing the Office of the Comptroller of Currency over a new rule that she said would facilitate predatory lending by allowing banks and third-party lenders to work around state laws meant to prevent excessive interest rates.

The civil complaint, filed in Manhattan federal court, alleged that the Trump administration and the OCC had rushed out its so-called “true lender” rule one week before the November presidential election, in a bid to “unilaterally rewrite federal and constitutional law” in order to favor national banks and lenders.

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