Nyc State bans payday lending through its longstanding unlawful and civil laws that are usury. It’s unlawful for just about any loan provider to produce loans that are payday whether face-to-face, by phone, or higher the online world. It’s also unlawful to get on payday advances in nyc.
How does New York State ban payday lending?
- Payday advances are incredibly high priced. The percentage that is annual (APRs) on pay day loans in many cases are 400% and greater!