- The New York Department of Financial Services sent letters to 28 companies this week requesting information about their online lending activities, reports Reuters.
- The letter demanded "immediate compliance" with New York licensing requirements for debt collection, money transmission, and mortgage lending activities. Also requested are details about the types of loans companies make and fees they pay or charge.
- Prosper, Avant, Funding Circle, and Upstart are among those a letter was sent to. There's no word on if LendingClub (NYSE:LC) or OnDeck Capital (NYSE:ONDK) were similarly served, but LendingClub was already the recipient of a subpoena from the DFS.