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 tasks that damage customers. The Department of Financial Services (DFS) sent subpoenas to 16 online lead generation firms suspected of deceptive or misleading marketing of illegal, online payday loans in New York as part of an extensive and ongoing investigation. DFS suspects that these companies are placing customers vulnerable to punishment by gathering and offering their private information to unlawful online payday lenders as well as other organizations, including scam performers, in breach of the latest York State legislation.
Previously this season, my management launched a research of online payday loan providers
And we are expanding this investigation to protect New Yorkers from similar scams that ensnare families in endless cycles of debt, Governor Cuomo said today. We will continue steadily to follow this research anywhere it leads and make use of every device at our disposal to shield New Yorkers from people who look for to victim upon vulnerable customers. Continue reading “Cuomo Administration Expands Investigation into Illegal On The Web Payday Lending and Related Consumer Abuses”