Payday loan laws in New York

• Statutory citation: N.Y. Banking Law 340 et seq.; N.Y. Banking Law 373.; N.Y. Penal Code 190.40.
• Legal status: Prohibited

Lending specifications:

• Small loan charges: 25% per year

Complaint cell:

• Regulator: New York State Banking Department
• Address: 1 State St, New York, NY 10004
• Phone: 212-480-6400
• Toll free: 1-800-342-3736
• Regulatory contact: Dianne E. Dixon, Deputy Superintendent of Consumer Services
• Website: http://www.dfs.ny.gov/
• File complaint: http://www.dfs.ny.gov/consumer/fileacomplaint.htm

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Please consult a qualified attorney for advice on your specific situation.