2006 New York Code - Disclosure Of Loan Information.

 
    §  20-781.  Disclosure of loan information. Before any consumer enters
  into a payday loan, the person offering, providing, or facilitating such
  loan shall provide to the consumer in writing  all  disclosure  required
  pursuant  to  the  federal  Truth  in  Lending  Act  in  addition to the
  following disclosure, in English and Spanish, in at least 20-point type:
    YOU ARE NOT REQUIRED TO ENTER INTO THIS PAYDAY LOAN  AGREEMENT  MERELY
  BECAUSE YOU HAVE RECEIVED THIS INFORMATION.
    IF  YOU DO SIGN A CONTRACT FOR A PAYDAY LOAN, YOU WILL BE TAKING OUT A
  LOAN. YOU WILL BE RESPONSIBLE FOR REPAYMENT OF THE  ENTIRE  LOAN  AMOUNT
  AND ALL RELATED COSTS AND FEES.
    IF  YOU  CANNOT PAY OFF THIS LOAN IN FULL, THE LENDER MIGHT NOT PERMIT
  YOU TO MAKE A PARTIAL PAYMENT. IN THAT SITUATION, YOU MAY BE REQUIRED TO
  TAKE OUT AN ADDITIONAL PAYDAY LOAN TO PAY OFF YOUR INITIAL DEBT.
    EACH TIME YOU EXTEND THIS PAYDAY LOAN OR TAKE OUT AN ADDITIONAL PAYDAY
  LOAN, YOU WILL BE CHARGED ADDITIONAL COSTS AND FEES.
    IF YOU DO TAKE OUT THIS PAYDAY LOAN, YOU WILL BE  RESPONSIBLE  TO  PAY
  ${insert  amount}  IN  FINANCE CHARGES FOR THE LOAN. AFTER THESE FINANCE
  CHARGES ARE PAID, YOU WILL RECEIVE  APPROXIMATELY  ${insert  amount}  AS
  YOUR LOAN.
    THE  ESTIMATED  ANNUAL  PERCENTAGE RATE OF YOUR PAYDAY LOAN IS {insert
  amount} %. THIS IS THE COST OF YOUR CREDIT AT A YEARLY RATE.
    It shall be the obligation  of  the  person  offering,  providing,  or
  facilitating  the  payday  loan  to  complete  the  required  disclosure
  accurately with all relevant information for each consumer and to ensure
  that the completed disclosure form is signed by the consumer  before  he
  or she enters into the payday loan.