New york state payday loans

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Attorney General Spitzer today sued a Delaware-based bank and two out-of-state financial companies for operating a loan scam that saddles middle to low income New Yorkers with huge debt.

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Consumer Debt in New York. Payday loans are short-term, high-interest loans and are illegal in New York state. These loans — which are typically under $500,

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PAYDAY LENDING IN NEW YORK: WHAT YOU NEED TO KNOW. Payday loans are illegal in New York State. It is a violation of New York State law to make payday loans in-person, by telephone, or over the Internet.

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Avoiding Predatory Loans and Loan Scams It is a violation of New York State law to make payday loans in-person, by telephone, or over the Internet.

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/5/2013Government authorities are homing in on a lucrative loophole that allows online lenders to offer short-term loans at interest rates that often exceed 500 percent annually, the latest front in a crackdown on the payday lending industry. New York State’s financial regulator joined the effort on