New York shutdown letter for "illegal" payday lenders

In a letter to banks, New York regulators asked financial institutions to clamp down on the lifeblood of online payday lenders that the state says are violating state law. Benjamin M. Lawsky, Superintendent of Financial Services for the New York State Department of Financial Services, urged banks to cut "illegal" payday lenders off from their access to the nationwide automated clearing house system. Chattanooga payday lender and philanthropist Carey V. Brown shut down his websites a few days later.

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onetinsoldier said...

Good riddance to a predator. TFP please refrain from calling this monster a philanthropist. Can't you tell the difference between philanthropy and manipulation.

August 16, 2013 at 2:59 p.m.
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