Montel Williams out as pay day loan pitchman in ny

By MICHAEL VIRTANEN Associated Press

ALBANY, N.Y. (AP) — an company that is online losing Montel Williams as the celebrity pitchman in nyc while agreeing to quit producing leads within the state for pay day loans with rates of interest often topping 1,000 %, regulators stated Tuesday.

A study discovered Las Vegas-based Selling supply LLC, conducting business as MoneyMutual, advertised unlawful loans online to New York residents, therefore the business will probably pay $2.1 million in charges, the Department of Financial Services said.

Williams, a previous marine whom hosted “The Montel Williams Show” for longer than ten years, finalized a permission purchase saying he’ll stop endorsing MoneyMutual loans in ny, it stated.

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