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#2230755 - 02/11/20 09:32 PM Consumer Loan Definition
Anonymous
Unregistered

Where can I find a definition specifically by the NYDFS, for Consumer Loans.

They are asking for Consumer Loan Data and I want to make sure we give them the correct loans.

Thank You

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#2230760 - 02/11/20 10:03 PM Re: Consumer Loan Definition Anonymous
TomS Offline
Gold Star
Joined: Jan 2004
Posts: 315
USA
I suggest asking the NYDFS directly.
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#2232307 - 03/04/20 05:13 PM Re: Consumer Loan Definition Anonymous
InFairness, CRCM Offline
Platinum Poster
InFairness, CRCM
Joined: Nov 2010
Posts: 704
USA
Not sure this is relevant for banks, but in their licensing requirements for nonbank lenders, making consumer loans of $25,000 or less requires a NY license if the APR can exceed 16%.
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Opinions are strictly my own, and have nothing to do with my employer.

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