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New York State Investigating Pension-Advance Firms
The New York Times 
May 7, 2013 "New York's top banking regulator has begun an investigation into pension-advance firms, the lenders that woo retirees to sign over their monthly pension checks in return for cash. The regulator, the Department of Financial Services, sent subpoenas to 10 companies in the business on Tuesday. Federal and state authorities say that such advances are actually loans that require customers to sign over all or portion of their monthly pension checks in exchange for a lump sum payment." MORE >> |
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