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Illegal online payday loans thrive in New York

July 16, 2012

Payday loans — short-term, small dollar loans with exorbitant fees — are restricted in 18 states, and New York’s ban is one of the toughest. But reporter John Sandman found evidence that online payday lenders are circumventing these bans, illegally targeting potential borrowers in these states. The investigation, published by City Limits, was supported by The Investigative Fund at The Nation Institute.

Posted in Business, Consumer protection, Economy, Extra Extra, Government (federal/state/local)
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