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Lending
Albany Bill Would Let Check-Cashers Provide Loans
The Senate and Assembly banking committees have both approved a bill to permit check-cashing outlets to provide short-term loans. Backers say it offers financing to those whom regular banks don't serve. Critics say it would permit exploitative “payday” lending.
Report: Fraud Common Among Top Debt Buyers
Between January 2006 and July 2008 the top 26 firms operating in NYC collected more than $1 billion through court judgments, allegedly obtaining many of them fraudulently.
City Tightens Screws On Debt Collectors
Two new policies stand to help residents counter unlawful debt collection practices, but agencies that broke pre-existing laws rarely faced criminal charges.
Check Cashers Get New Respect
Some city officials and nonprofits are recognizing that in lower-income neighborhoods, many of which have a meager banking presence, check cashers fill a vital need.
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Debt Deception
Report: How Debt Buyers Abuse the Legal System to Prey on Lower-Income New Yorkers
