An online payday lender will begin refunding borrowers in New York up to $20 million in what regulators call "illegally high interest" rates.
Western Sky Financial was a prominent online lender that offered short-term loans at triple digits interest rates. New York sued along with several other states with strict usury laws that cap interest rates. In New York the interest rate cap is 16%.
Officials say the users of the site who register with settlement manager will get refunds based on the difference between the legal interest rate and the rate charged.
Long Island schools put their budgets up for vote Tuesday. Most school districts hope to increase their tax levies at or just below the 2% cap on property tax increases that New York Governor Andrew Cuomo signed into law in 2011.
Four Suffolk schools are attempting to exceed that cap: West Babylon, Sayville, East Hampton, and Bridgehampton. Officials say the districts received less state school aid than they were hoping and so piercing the cap is necessary.
Connecticut’s Democratic Governor Dannel Malloy and his leading Republican challenger Tom Foley are taking shots at each other following their party conventions over the weekend. The candidates are picking up from four years ago when Malloy narrowly beat Foley.
A former Quinnipiac University student is facing charges after police say she phoned in bomb threats before the university’s graduation ceremony Sunday. Police say she didn't want her family to find out she wasn't graduating.
Stamford is once again home to one of Connecticut's state-run technical high schools. It's reopening this fall after the state shut it down five years ago. We take a look at the school’s rebirth and what administrators are doing to make sure it’s not closed again.