Archive for the ‘All Payday Loans’ Category

Cuomo Administration Needs 35 Organizations Cease and Desist Providing Prohibited Payday Loans Online That Damage Brand Brand New York Consumers

Thursday, January 23rd, 2020

Cuomo Administration Needs 35 Organizations Cease and Desist Providing Prohibited Payday Loans Online That Damage Brand Brand New York Consumers

Governor Andrew M. Cuomo announced today that their management demanded 35 online companies cease and desist offering unlawful payday advances to ny customers. A thorough, ongoing ny state dept. of Financial solutions (DFS) investigation uncovered that people businesses had been providing pay day loans to customers on the internet in breach of the latest York legislation, including some loans with yearly rates of interest since high as 1,095 per cent.

Governor Cuomo additionally announced today that Benjamin M. Lawsky, Superintendent of Financial Services, sent letters to 117 banking institutions also NACHA, which administers the Automated Clearing House (ACH) system and whoever board includes representatives from a wide range of the banking institutions asking for which they utilize DFS to cut down access to ny consumer makes up unlawful payday lenders. (more…)