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Information and Resources for Licensed Lenders

As stated in Section 340 of the Banking Law, No person or other entity shall engage in the business of making loans in the principle amount of twenty-five thousand dollars or less for any loan to an individual for personal, family, household, or investment purposes and in a principal amount of fifty thousand dollars or less for business and commercial loans, and charge, contract for, or receive a greater rate of interest than the lender would be permitted by law to charge if he were not a licensee hereunder except as authorized by this article and without first obtaining a license from the superintendent.”

For licensing requirements see Article 9 of the Banking Law, sections 340 to 361, Superintendent's Regulations Parts 401, 407 and 300 and Penal Law Section 190.42.


Starting on November 1, 2017, the New York State Department of Financial Services (DFS) will be transitioning Licensed Lenders to the Nationwide Multistate Licensing System and Registry (NMLS) to manage license applications and ongoing regulation.  NMLS was created by the Conference of State Bank Supervisors (CSBS) and began operations in January 2008. DFS strongly supports CSBS efforts such as Vision 2020 and currently employs NMLS to manage and regulate money transmitters and mortgage providers licensed in New York. 

DFS will participate in a NMLS Training Webinar conducted by the State Regulatory Registry LLC for New York Licensed Lender and Sales Finance Company Licensees on Wednesday November 8, 2017, from 1-3PM EST.

This training is intended to help licensees transition their existing license(s) on to NMLS.  The training will include an overview of the resources available, licensing requirement checklists that should be reviewed, and a demonstration of tasks that must be completed in NMLS.  DFS encourages all New York State Licensed Lenders to attend.

Click here to register for the training. There is no fee to participate. This session will be recorded.

Note: Space is limited to 500 attendees and will be granted on a first come first served basis. If you are unable to attend the live training, you will be able to access the training’s recording.


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Examination and Annual Assessment Information

Institutions We Supervise

The Department of Financial Services supervises many different types of institutions. Supervision by DFS may entail chartering, licensing, registration requirements, examination, etc. The Who We Supervise search application can help you find out whether an institution is regulated and/or licensed by DFS, and what additional locations or branches they may have.

Updated 11/01/2017


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