NACHA’s Proposed Reforms Try Not To Go Far Sufficient and then leave Brand Brand Brand New Yorkers At Risk Of Prohibited, Predatory Payday Lending

Benjamin M. Lawsky, Superintendent of Financial solutions, today announced them to take stronger action to root out illegal payday lending over the internet that he sent a letter to NACHA – which manages the development, administration, and governance of the Automated Clearing House (“ACH”) network for payment processing among banks – and its board of directors urging.

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