NY Payday Loan Probe Expands Into Online Marketers

Law360, New York (December 3, 2013, 1:46 PM EST) -- New York regulators have expanded their investigation into illegal payday loans by issuing subpoenas to 16 Internet-based companies they say may be ensnaring consumers in fraud schemes by marketing illegal financing agreements and subjecting them to privacy breaches, the Cuomo administration said Tuesday.

Online outfits are suspected of trying to draw New Yorkers into illegal online payday loans, the state Department of Financial Services said, adding that reports of harassing phone calls, deceptive advertising and privacy breaches accompany the efforts of the so-called "lead generation" firms....
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