ALBANY, N.Y. (AP) — An internet company is losing Montel Williams as the celebrity pitchman in nyc while agreeing to quit producing leads within the state for pay day loans with interest levels often topping 1,000 per cent, regulators stated Tuesday.
A study discovered Las Vegas-based Selling supply LLC, conducting business as MoneyMutual, advertised unlawful loans online to New York residents, while the business will probably pay $2.1 million in charges, the Department of Financial Services said.
Williams, a marine that is former hosted “The Montel Williams Show” for over 10 years, finalized a permission purchase saying he’ll stop endorsing MoneyMutual loans in ny, it stated.
“Using Mr. Williams’s reputation as being a celebrity that is trusted, MoneyMutual advertised loans to struggling customers with sky-high interest prices — sometimes more than 1,300 percent — that trapped New Yorkers in destructive rounds of debt,” department Superintendent Ben Lawsky stated in a declaration. Continue reading “Montel Williams out as pay day loan pitchman in ny”