Ny county are inquiring more than 100 financial institutions so you’re able to choke regarding access to the fresh automated costs system you to definitely unlicensed on the internet loan providers use to debit new examining accounts off consumers.
The newest Justice Service and you will condition regulators is actually focusing on financial institutions one service a standard set of whatever they envision questionable financial ventures, also specific on line pay check loan providers. We applaud new government’s efforts so you can get rid of crappy actors one to do fake transactions otherwise break federal laws and regulations. However, I’m profoundly concerned with new unintended outcomes this may features towards the much needed financial attributes to own underbanked people that have confidence in legitimate quick-identity lenders, known as pay check loan providers. 続きを読む