Montel Williams is going as cash advance pitchman in ny
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ALBANY, N.Y. — an company that is online losing Montel Williams as the celebrity pitchman in ny while agreeing to cease producing leads within the state for payday advances with rates of interest often topping 1,000 per cent, regulators stated Tuesday.
A study discovered Las Vegas-based Selling Source LLC advance america payday loans in michigan, conducting business as MoneyMutual, advertised illegal loans online to New York residents, in addition to business can pay $2.1 million in charges, the Department of Financial Services said.
Williams, a marine that is former hosted “The Montel Williams Show” for longer than ten years, finalized a consent purchase saying he’ll stop endorsing MoneyMutual loans in ny, it stated.
“Using Mr. Williams’ reputation as being a celebrity that is trusted, MoneyMutual advertised loans to struggling customers with sky-high interest prices — often more than 1,300 percent — that trapped New Yorkers in destructive cycles of financial obligation,” department Superintendent Ben Lawsky stated in a declaration. Read more →