N.Y. Banking Law § 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.