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Benjamin M. Lawsky, New York State’s top financial regulator, is sending cease-and-desist letters to 20 companies suspected of making illegal payday loans.
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Benjamin M. Lawsky, with the blessing of Governor Andrew M. Cuomo, reminds the state's payday lenders that nope: illegal payday loans in New York.
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New York has already banned payday lending, but ongoing illegal operations moved the governor’s office to act this week.
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