Payday Loan List of States
Payday Loan List of States
Payday loans are small loans subject to individual state regulation. Traditionally states capped small loan rates at 24 to 48% annual interest and required installment repayment schedules for any small loans. Many states also have criminal usury laws in order to protect consumers. For example, New York 's criminal usury cap is 25% annual interest.
Payday loans are legal in states where legislatures exempted these lenders from small loan or usury caps. In states that repealed small loan rate caps or usury limits for licensed lenders, payday lenders are allowed to charge unlimited rates.
Prohibited by Small Loan Laws or Usury Caps
Currently there are 12 states and two territories that have small loan laws or usury caps that effectively prohibit payday lending at triple-digit interest rates. In Arkansas , the state Constitution caps rates at 17% annual interest, but the legislature enacted a law that permits check cashers to make single payment loans based on check holding. The constitutionality of payday lending at triple-digit interest rates in Arkansas is being challenged in the courts.
(Arkansas) Connecticut Georgia Maine
Maryland Massachusetts New Jersey New York
North Carolina
Pennsylvania Vermont West Virginia
Puerto Rico Virgin Islands
Payday Loan List of States Authorized by Specific Payday Loan Laws or Licensed Lender Laws
These states enacted safe harbor legislation for payday lenders and permit loans based on checks written on consumers' bank accounts at triple digit interest rates. The only states that do not explicitly authorized payday loans by law are New Mexico and Wisconsin where licensed lenders are permitted to charge any rates they choose.
Alabama Colorado Idaho Kansas Minnesota Nebraska Ohio South Carolina Utah District of Columbia
Alaska Delaware Illinois Kentucky Mississippi Nevada Oklahoma South Dakota Virginia Arizona Florida Indiana Louisiana Missouri New Hampshire Oregon - also see on this website: Payday Loan Oregon Tennessee
Washington
California Hawaii Iowa Michigan Montana North Dakota Rhode Island Texas Wyoming
This ends the payday loan list of states but we will continue to update as laws change.
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This website covers all 50 states: Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming common misspellings: oayday loan, layday loan, -ayday loan, 0ayday loan, pzyday loan, psyday loan, pwyday loan, pqyday loan, patday loan, pagday loan, pahday loan, pauday loan, pa7day loan, pa6day loan, paysay loan, payxay loan, paycay loan, payfay loan, payray loan, payeay loan, paydzy loan, paydsy loan, paydwy loan, paydqy loan, paydat loan, paydag loan, paydah loan, paydau loan, payda7 loan, payda6 loan, payday koan, payday poan, payday ooan, payday lian, payday lkan, payday llan, payday lpan, payday l0an, payday l9an, payday lozn, payday losn, payday lown, payday loqn, payday loab, payday loam, payday loaj, payday loah, ayday loan, pyday loan, paday loan, payay loan, paydy loan, payda loan, paydayloan, payday oan, payday lan, payday lon, payday loa, apyday loan, pyaday loan, padyay loan, payady loan, paydya loan, payda yloan, paydayl oan, payday olan, payday laon, payday lona, ppayday loan, paayday loan, payyday loan, paydday loan, paydaay loan, paydayy loan, payday lloan, payday looan, payday loaan, payday loann, Related words: Payday Advance Loan,Payday lender,Payday lenders,Payday lending,Payday loan,Payday Loan Act,Payday loan problems,Payday loans,Credit, Credit Card, Interest, Line of Credit, Loan, Open End Credit, Revolving Credit
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