New York MCA Laws Updated
One little quirk exists though, what if the loan is for exactly $2,500,000.00? The law would seem to point to the fact that a transaction in the exact amount of $2.5MM is still governed by SB 5740, but not governed any longer under criminal usury since in New York criminal usury is capped at $2,499,999.00
https://grantphillipslaw.com/n....ew-york-mca-laws-upd
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