New York Payday Loans

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.
Status: Prohibited

Payday loans (cash advances) are prohibited in the state of New York according to N.Y. Banking Law 340 et seq.; N.Y. Banking Law 373.; N.Y. Penal Code 190.40.  It is illegal for payday lenders to operate a brick and mortar location or an over the internet in New York. In case of sudden financial emergencies you can still pursue personal loans from various credible and reliable online lenders.  Additionally, the small loan usury cap is set at 25% per year based on Penal Code 190.40.

Small Loan Rate Cap:
25% per year
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Regulatory Information

If you have a complaint against a New York Cash Advance location you can contact your state regulator below:

New York State Banking Department
One State Street New York NY 10004

New York Check Cashers

Below you can find New York check cashers in the following cities:

New York Statistics**

The following information is key demographic data for the state of New York from the Census bureau.

Total Population:
Median Household Income:
Poverty Rate:
Median Gross Rent:
High School Graduate or Higher:
Bachelor's Degree or Higher:
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