NYDFS Examining Online Lenders

The New York Department of Financial Services continues to thoroughly investigate the business practices of online lenders; a proposal is in process that would require increased regulation for online lenders; specifically new regulations would be instituted for all lenders making personal loans of $25,000 or less and business loans of $50,000 or less and would also apply to online lenders involved in soliciting loans and buying loans.  Source

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