Governor Andrew M. Cuomo today announced that their Administration is expanding its efforts to safeguard New Yorkers from unlawful, online payday lending and associated fraudulent tasks that damage customers. Included in a thorough and ongoing research, the Department of Financial Services (DFS) delivered subpoenas to 16 online lead generation businesses suspected of misleading or deceptive advertising of illegal, online pay day loans in nyc. DFS suspects that these organizations are placing customers vulnerable to abuse by gathering and attempting to sell their information that is personal to illegal online payday lenders as well as other organizations, including scam musicians, in breach of the latest York State legislation.
Previously this present year, my management established an research of online lenders that are payday
And today our company is expanding this research to guard New Yorkers from similar frauds that ensnare families in endless rounds of financial obligation, Governor Cuomo stated. 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 those that look for to victim upon vulnerable customers. (more…)