How much can lenders charge in New York?

Many loans have compounding interest and financing fees which are represented as an annual percentage rate (APR). In New York, this is capped at 25%. If you make a late payment or miss one entirely, you will likely have to pay a fee, and your lender can charge you a non-sufficient funds (NSF) fee if you don’t have enough funds in your account to complete a payment. The amount you pay in fees depends on the lender and the type of loan you take out.
Bottom line

Although you can’t take out a payday loan new york loan in New York, you still have other ways to get a little help with your finances. If you find yourself constantly short on money, you can also consider speaking with a credit counselor.