The state of New York's crackdown on illegal online payday loans is being ratcheted up, with Bank of America (BAC) taking unprecedented steps to help state officials ferret out misconduct.

Charlotte, N.C.-based B of A has agreed to use a state-created database that lists more than 50 online lenders accused of operating illegally in New York, state officials said Monday. Bank of America is the first bank to join the initiative, and New York officials hope that other banks will follow its lead.

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