A 25% criminal usury cap makes payday-style cash advances illegal outright.
What a Cash Advance Costs in New York
New York's criminal usury statute caps interest at 25% APR — exceeding it isn't just unenforceable, it's a criminal offense, which has kept traditional cash advance products out of the state entirely.
Loan Size, Term, and Renewal Rules
Short-term credit options in New York are limited to licensed lenders operating within that 25% ceiling.
| Factor | Rule |
|---|---|
| Criminal usury cap | 25% APR |
| Traditional cash advances | Illegal |
Verify current rules with the New York Department of Financial Services before applying with any lender — this summary is for general information only, not legal advice.
Comparing Your Options in New York
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