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New York fast-tracks abusive lending regulation (Under the Hood)

Penalties could reach $15,000 per violation 

Marcie Belles

A New York bill that expands the state attorney general’s power to legally pursue predatory lenders landed on Gov. Kathy Hochul’s desk on June 18. The bill, called the “Fostering Affordability and Integrity through Reasonable Business Practices Act” — or the FAIR Act, for short — repurposed a 1970 law centered on “deceptive” acts to […]

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