JP Morgan Chase

Regulators press payment network
6:39 pm
Thu November 13, 2014

Banks Agree To Block Payday Lenders

Four additional banks have agreed to block online payday lenders from accessing customer accounts in New York. The agreement comes as the banks' processing network remains silent on efforts to keep the illegal loans from crossing state borders.

Payday lending is generally illegal in New York and Connecticut because the loans, which can be as high as 500 percent, exceed both states' cap on allowable interest.

However, investigators in New York have received complaints that payday lenders are making these loans online.

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Business
10:14 am
Fri December 6, 2013

Data breach at JP Morgan Chase may have affected 7,000 people in Conn.

People stand in the lobby of JPMorgan Chase headquarters in New York. (File photo)
Credit AP Photo/Mark Lennihan

Connecticut officials say they've learned that about 7,000 people in the state may have had their personal information put at risk due to a data breach at JP Morgan Chase.

The bank says the breach might have affected about 465,000 around the country who have a UCard, a prepaid debit card, and use its website. 

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