Cuomo Administration Expands Investigation into Prohibited On Line Payday Lending and Associated Customer Abuses

Cuomo Administration Expands Investigation into Prohibited On Line Payday Lending and Associated Customer Abuses

Cuomo Administration Expands Investigation into Prohibited On Line Payday Lending and Associated Customer Abuses

Governor Andrew M. Cuomo today announced that their management is expanding its efforts to shield New Yorkers from unlawful, online funding that is payday associated fraudulent tasks that harm customers. The Department of Financial Services (DFS) delivered subpoenas to 16 online lead generation companies suspected of deceptive or misleading marketing of illegal, payday advances online in ny as a component of a thorough and research that is ongoing. DFS suspects that these companies are putting customers prone to punishment by gathering and providing their information this is certainly specific to unlawful online payday lenders and other organizations, including scam musicians, in breach of new York State legislation.

Previously this 12 months that exists my management established a study of online financial institutions which are payday

Today and now we are expanding this research to guard New Yorkers from similar scams that ensnare families in endless rounds of financial obligation, Governor Cuomo stated. Read more