A guide to Payday Loans in New York, USA. 

What are the Citation (s) to Payday Loan or Small Loan Laws in New York?
Licensed lender law applies but interest rate is that agreed to by contract. N.Y. Banking Law § 340 et seq. A check casher licensee cannot make loans nor cash or advance any moneys on a post dated check unless it is a payroll check. N.Y. Banking Law § 373. Criminal law sets the usury cap at 25%. N.Y. Penal Code § 190.40.

Q: Are Payday Loans legal in New York? 
A: No Payday Loans are prohibited in New York. 

Q: What is the maximum interest rate charged on small loans in New York?
A: The maximum interest rate charged on small loans in New York is 25% per year

Contact the Department Of Financial Institutions

If you have questions about payday loans please contact the New York Department of Financial Institutions at:

New York State Banking Department
Address: One State Street New York, NY 10004
Phone: 1-877-BANK-NYS
Fax: 
Regulatory Contact: Regina A. Stone, Deputy Superintendent
Website: http://www.banking.state.ny.us/

Where can I find a payday loan store in New York? 

You can find the store nearest to your location by simply clicking on this link  loc: New York