New York Attorney General Andrew M. Cuomo has begun a national investigation into the debt settlement industry, which he said preys on consumers with lots of card debt.

Cuomo’s office said Thursday he has subpoenaed 14 companies and a law firm to learn about their fee structures and how many have benefited from their services.Some companies have falsely advertised that they can reduce card debt by as much as 75% through negotiations with creditors, the office said.

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