New Economy Project writes to register its vehement opposition to the Office of the Comptroller of the Currency’s proposed “true lender” rule. In one fell swoop, the proposal would effectively obliterate New York’s longstanding usury laws and legalize, for the first time in our state’s history, predatory payday lending. The proposed rule is consistent with the Trump administration’s broader efforts to dismantle critical protections and benefit corporate interests–in this instance, facilitating the systematic extraction of wealth from people and communities.