New York Laws
Article 5 - Foreign Banking Corporations and National Banks
202 - Rates of Interest; Installment Obligations; Personal Loan Departments; Effect of Usury

§ 202. Rates of interest; installment obligations; personal loan
departments; effect of usury. Branches and agencies of foreign banking
corporations licensed to do business in this state may make loans and
offer extensions of credit to the same extent and subject to the same
conditions as banks and trust companies may make loans and extend credit
pursuant to the provisions of subdivisions four-a and five of section
one hundred three of this chapter and section one hundred eight of this
chapter. Without limiting the foregoing, a foreign banking corporation
licensed pursuant to article two of this chapter to maintain one or more
branches or agencies in this state, may, in pursuance of its otherwise
lawful powers under this chapter, take, receive, reserve or charge on
any loan or discount made, or upon any note, bill of exchange or other
evidence of debt, negotiable or otherwise, interest at such rate and
such other charges and fees as a bank or trust company shall be
permitted to charge under the provisions of the laws of this state or
the laws of the United States, with respect to the same class or classes
of loans or transactions to which such rate or such charges and fees
shall be applicable.

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