N.Y. Banking Law § 380-e: Effect of usury

§ 380-e. Effect of usury. The knowingly taking, receiving, reserving,

or charging by a savings and loan association of interest, as computed

pursuant to this article, at a rate greater than such rate of interest

as may be authorized by law shall be held and adjudged a forfeiture of

the entire interest which the note or other evidence of debt carries

with it, or which has been agreed to be paid thereon. If such greater

rate of interest has been paid, the person paying the same or his legal

representatives may recover from the savings and loan association twice

the entire amount of the interest thus paid. Nothing in this section

shall be deemed to affect the powers of any savings and loan association

with respect to loans or investments it is authorized to make.