Editor's note: Steven A. Meyerowitz, Esq., is a director of FC&S Legal. FC&S and PC360 are both owned by Summit Professional Networks.
The New York Department of Financial Services (DFS) has determined that the car-sharing service RelayRides put New Yorkers at risk through false advertising, unlicensed insurance activity, and other violations of law.
RelayRides, a peer-to-peer car-sharing service that allows people to rent out their vehicles to third parties in exchange for a fee, will pay a $200,000 penalty to the DFS as a result of the investigation.
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