PDL
Date: Sun, 09/21/2008 - 17:35
are PDL's legal in NY state
CLICK HERE Quote:New York State Information Legal Status: Pr
CLICK HERE
Quote:
New York State Information Legal Status: Prohibited Citation: 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. Small Loan Rate Cap 25% per year Where to Complain, Get Information: Regulator: 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 |
Correct. They are not legal. All you need to do is pay back the
Correct. They are not legal. All you need to do is pay back the principle borrowed