#internet lending

[jaydokie]

Lawsky May Regulate Internet Loans for Now, Court Rules

Lawsky May Regulate Internet Loans for Now, Court Rules

Benjamin Lawsky, New York’s top banking regulator, has the power to regulate online lenders, including those owned by American Indian tribes, a U.S. appeals court said in a preliminary victory for the state.

The U.S. Court of Appeals in New York today upheld a ruling by a lower-court judge allowing Lawsky to bar lenders from issuing loans with triple-digit interest rates, far exceeding the…

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