A federal judge has ordered Buffalo-based debt collectors to stop telling borrowers they face prison for check fraud and making other false threats.
The injunction, sought by New York Attorney General Eric Schneiderman and the Federal Trade Commission, freezes assets of the collection operation and gives temporary control to a court-appointed receiver.
The defendants agreed to the injunction without admitting wrongdoing.
WASHINGTON (AP) -- With tacit support from President Barack Obama, House Republicans are moving to try to defuse a potential debt crisis with legislation to prevent an economy-rattling fiscal crisis for at least three months.
The GOP legislation marks a tactical retreat by House Speaker John Boehner, R-Ohio, who is eager to avoid a potential first-ever default on U.S. payment and debt obligations as he wrestles with Obama and his Democratic allies over taxes, spending and the deficit.
ALBANY, N.Y. — The New York comptroller says the state government's debt has topped $63 billion, with New York on track to approach its borrowing limit in early 2014.
Comptroller Thomas DiNapoli says Monday the debt burden, averaging $3,253 per resident, is almost three times the national median. New York's debt is second only to California's $96.4 billion in state-funded debt and 80 percent higher than New Jersey, which is in third place.