Consumer Credit Regulation: 3.5.3.1 Rate Exportation Applies Only When a Depository Originates the Loan
Rate exportation and express preemption by the rate exportation provisions are only applicable if the originating creditor is a depository eligible to export rates.450 A bank cannot purchase a usurious note and then claim that the note is no longer usurious on the theory that the laws of the bank’s home state should control.451