Here's One More Third-Party Compliance Risk for Banks to Worry ...

Receiving Wide Coverage ... Stuck in the Middle: Banks are once again caught between a crusading regulator and a frowned-upon fringe of the financial industry. New York Department of Financial Services Superintendent Benjamin Lawsky warned 35 online lenders to stop offering loans that violate the state usury cap, and asked 117 banks to stop these lenders from debiting borrowers' accounts via ACH. "Banks have proven to be — even if unintentionally — an essential cog in…