Instances Union: Cuomo Cracks Down on Payday Lenders

Gov. Andrew Cuomo along with his services that are financial Ben Lawsky are announcing a crackdown today on online payday lenders who charge yearly interest levels up to 1,095 %.

Here you will find the details, along side among the letters provided for banks which have been dealing with several of those lenders that are internet

Governor Andrew M. Cuomo announced today that their Administration demanded 35 companies that are online and desist offering illegal pay day loans to ny customers. A comprehensive, ongoing Ny state dept. of Financial Services (DFS) investigation uncovered that people businesses had been providing pay day loans to customers on the internet in breach of New York legislation, including some loans with yearly rates of interest up to 1,095 %. Continue reading