NY attorney general gets payback on payday advances

NY attorney general gets payback on payday advances

Five businesses which have been gathering on illegal “payday” loans will probably pay a lot more than $300,000 in restitution and charges towards the state and consumers under money established by Attorney General Eric Schneiderman Monday.

The four business collection agencies agencies plus one business that is debt-buying banned because of the settlement from gathering in the loans, which violate state legislation for their excessive rates of interest. The company that is debt-buying Northern Resolution set of Amherst, will also reverse 8,550 negative reports about nyc borrowers so it built to credit rating bureaus. Continue reading

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