You can find twenty states, plus the District of Columbia, that presently prohibit acutely high expense payday loans.
Thirteen states completely prohibit pay day loans, with a few for the states setting an APR cap for little loan loan providers into the state.
Arkansas forbids loans that are payday. Tiny loans are restricted to a 17 % APR limit at the time of 2010. Georgia prohibits pay day loans under racketeering regulations. Ny forbids loans that are payday criminal usury statutes. Tiny loans are limited by 25 to 30 % APR. Nj-new jersey forbids payday advances through criminal usury statutes. Tiny loans are restricted to 25 to 30 % APR. Arizona forbids loans that are payday of 2010. There was a 36 per cent limit on little loans for loan providers running when you look at the state. (more…)