Weather Alert

Significant Winter Storm Possible From Monday Night Through Tuesday

An area of low pressure will track to our south through Monday.  Some light snow should develop through Monday afternoon and evening as a result.  The low pressure will then rapidly intensify off of the Northeast coast Monday night and Tuesday.  Uncertainty remains as to the exact track of this low pressure, but if it tracks close enough to the coast, portions of the area could see a significant snowfall.


Channel 6 News - Search Results

The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

NY attorney general hits payday lenders

BUFFALO, N.Y. (AP) -- Attorney General Eric Schneiderman is announcing that five companies that have been making collections on short-term "payday" loans will pay more than $300,000 in restitution and penalties under a settlement.

Schneiderman is scheduled to make the announcement Monday morning in Buffalo at the annual convention of the Public Employees Federation. The Buffalo News reports ( ) that the loan companies that operated in Erie County have agreed to stop making further collections in New York state.

Payday loans are meant to be repaid on the next payday. They typically have interest rates from 100 percent to 650 percent or more. If a $500, two-week loan is rolled over three times, Schneiderman said the borrower would be charged $500 in interest for an eight-week, $500 loan.

New York caps interest at 16 percent for most non-bank lenders.

AP-WF-09-30-13 1153GMT
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