Bank Groups Ask Court to Block Oregon Law Capping Loan Rates

Three banking and lending groups have asked a federal court to stop Oregon from enforcing a new law. The National Association of Industrial Bankers, the Online Lenders Alliance and the American Financial Services Association filed the request on July 9, according to an analysis by the law firm Ballard Spahr. The groups are seeking a preliminary injunction that would pause the law while a legal case moves forward.