GOVERNOR CUOMO ANNOUNCES CITIBANK, JPMORGAN CHASE, M&T BANK AND VALLEY NATIONWIDE BANK TO UTILIZE DFS DATABASENDING

Financial institutions use DFS Database Tool to significantly assist in preventing Electronic Payment and Debit Networks from Being Exploited by prohibited, on the internet Payday Lenders

Bank of America chose to make use of the DFS Payday Lender Database earlier in the day this current 12 months

Governor Andrew M. Cuomo announced today that four extra financial institutions have really chose to take advantage of a database this is certainly brand brand new due to the State’s Department of Financial approaches to assist acknowledge preventing unlawful, online payday financing in ny. The banks – Citibank, JPMorgan Chase, M&T Bank and Valley nationwide Bank – will begin utilizing a database containing informative data on companies which were vunerable to actions by DFS based on proof illegal lending that is payday. Continue reading