New York

New York State Investigates Online Lending Industry


NEW YORK, NY (August 3, 2018) - The New York Department of Financial Services submitted recommendations for regulating predatory online lenders this week, now being reviewed for legislation by the governor and state legislature.

The DFS promotes better protections for borrowers and the expansion of usury laws and licensing requirements for all online lenders, who have previously been exempt from standard lending regulations.  

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