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Cuomo Administration Takes Action to prevent Prohibited, On The Web Payday Lending Through Debit Card Networks

Cuomo Administration Takes Action to prevent Prohibited, On The Web Payday Lending Through Debit Card Networks

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Governor Andrew M. Cuomo announced brand new efforts to stop the processing of unlawful pay day loans through debit card transactions and help protect New York customers. MasterCard and Visa have actually agreed in conversations utilizing the Department of Financial Services (DFS) to just take a number of actions to aid stop this activity that is illegal their debit card companies.