Cuomo Administration Expands Investigation into Prohibited On Line Payday Lending and Associated Consumer Abuses
Governor Andrew M. Cuomo today announced that their management is expanding its efforts to guard New Yorkers from unlawful, online lending that is payday associated fraudulent activities that damage customers. Included in a comprehensive and ongoing research, the Department of Financial Services (DFS) delivered subpoenas to 16 online lead generation organizations suspected of misleading or deceptive advertising of illegal, online pay day loans in nyc. DFS suspects that these companies are putting customers vulnerable to punishment by gathering and offering their private information to unlawful online payday lenders as well as other businesses, including scam music artists, in breach of the latest York State legislation. Continue reading