New York Attorney General Letitia James has filed a lawsuit against Yellowstone Capital and other lenders, seeking at least $1.4 billion for allegedly engaging in predatory lending practices that exploit small businesses. The suit accuses the lenders of issuing fraudulent loans with interest rates as high as 820%, targeting businesses like Manhattan's City Bakery.
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Attorney General Letitia James says Yellowstone Capital charged as much as 820 percent interest in predatory lending scheme. https://t.co/9mutdCDx88
New York AG Letitia James slapped Yellowstone Capital and dozens of other lenders with a suit seeking at least $1.4 billion for allegedly predatory lending practices James said exploit small businesses through fraudulent loans at "sky-high interest rates." https://t.co/q5H5erUtAY
New York sues cash-advance operation for issuing fraudulent loans with rates as high as 820% https://t.co/zOAnL0lHn0
New York sues loan shark group accused of charging Manhattan’s City Bakery and other small businesses "illegal" rates of up to 820%. https://t.co/sZhY1GZwsi