The state of New York is expanding its drive against payday lenders that provide short-term loans with annual interest rates up to 1,000 percent or more.
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NY cash advances and payday loan solutions for residents of New York that need cash quickly.The payday loan industry, which is vilified for charging exorbitant interest rates on short-term loans that many Americans depend on, could soon be gutted.
While the cash advance lending industry is flourishing throughout the United States, residents of New York are not able to procure a cash.
New York law limits interest rates for most lenders not licensed by the state to a maximum of 16 percent.
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