New York Proposal Could Mean More Oversight in Online Lending Merchant Services

New York Proposal Could Mean More Oversight in Online Lending Merchant Services

The New York State Department of Financial Services (NYSDFS) wants more regulations for online lenders. We’re wondering if such a move could lead to changes how acquiring banks give approvals for online lending merchant services. The proposal doesn’t name payday lenders by term – actually, the proposal doesn’t reference any specific type of lender –…