Mealey's Banking & Finance - New York Financial Department Alleges Wrongdoing By Auto Loan Finance Company

Mealey's Banking & Finance - New York Financial Department Alleges Wrongdoing By Auto Loan Finance Company

NEW YORK - The superintendent of Financial Services of the State of New York (the department) on April 23 filed a complaint in New York federal court alleging that a finance company that acquires and services subprime auto loans has wrongfully retained customers' positive credit balances and concealed the balances from customers and regulators, among other allegations (Benjamin M. Lawsky v. Condor Capital Corp., et al., No. 14-2863, S.D. N.Y.).

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