Loan rules by state
Interest caps, loan limits and even whether payday loans are allowed depend on where you live. Start with your state, then check that any lender is licensed there.
Choose your state
What changes from state to state
Interest and fee caps
Some states cap small-loan APRs around 36%; others allow per-$100 fees that add up to triple-digit APRs.
Whether payday loans are allowed
Some states effectively prohibit payday lending through rate caps or bans; others license it with limits.
Loan amounts and lengths
States may cap loan amounts, set minimum terms, or require installment repayment.
Rollovers and cooling-off periods
Rules on renewals, how many loans you can have and waiting periods between loans vary widely.
Check that a lender is licensed
Search NMLS Consumer Access
Many states license consumer lenders through the Nationwide Multistate Licensing System. Search a company for free at NMLSConsumerAccess.org.
Check your state regulator
Your state's banking or financial services department lists licensed lenders and takes complaints. Find yours through the Conference of State Bank Supervisors.
Be wary of "tribal" or offshore lenders
Some online lenders claim they don't have to follow state law. Ask your state regulator before borrowing.
All states A to Z
Frequently asked questions
Do online lenders have to follow my state's laws?
Generally yes. Lenders must follow the consumer lending laws of the state where you live, and many need a license there.
What if my state doesn't allow payday loans?
Credit union PAL loans, personal installment loans and cash advance apps may still be available. Compare costs using APR.
Where do I complain about a lender?
Your state financial regulator and the CFPB both accept complaints about lenders.
See offers available in your state
Request $200 to $5,000. Lenders in our network set terms based on your state's laws.
Sources
- NMLS Consumer Access
- Conference of State Bank Supervisors
- NCSL: Payday lending state statutes
- Department of Defense: Military Lending Act
- CFPB: Submit a complaint
This article is general education, not financial, legal or tax advice. Rules and rates change; check the source or a qualified professional before making decisions.
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