Tagged as: NYDFS

NY Department of Financial Services Settles Payday Lending Claims Against Online Lender

On March 17, 2016, the New York Department of Financial Services (NYDFS) announced that it entered into a consent order and settlement with a financial services company over allegations the company offered illegal online payday loans in New York. The company allegedly operated an online payday loan “lead generation” business. Although payday lending is…

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New York Financial Firm Ordered to Surrender License Over Alleged Cheating on Regulatory Exams

On November 19, 2015, the New York Department of Financial Services (DFS) announced​ that it had ordered​ a regional mortgage company to pay a $1 million fine and surrender its mortgage license over allegations the firm’s senior managers cheated on continuing education exams. Under New York law, all mortgage originators must…

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CFPB and New York Department of Financial Services Announce Lawsuit Against Financial Companies Over Pension Loans

CFPB sign

On August 20, 2015, the CFPB and the New York Department of Financial Services (NYDFS) announced they had filed a lawsuit in federal court in California against two regional financial companies. According the complaint, the companies deceived consumers about the fees and interest rates associated with pension loans. The companies…

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