Payday Loan Apps
Payday loan apps (also known as “Earned Wage Access” apps or “Cash Advance Apps”) target low-income New Yorkers, promising faster access to wages but trapping people in high-cost debt. These apps extract fees and “tips” from people’s wages that translate to interest rates of over 330% APR — more than thirteen times New York’s legal interest rate. Click on the icons below to learn more about the industry, hear first-hand accounts from other New Yorkers, share your story, and take action against payday lending in New York State.
