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Posted: Thu Aug 17, 2006 9:34 am Subject: State Lending Laws for Everyone

Hi everyone! It can be frustrating trying to sort through your state's government websites to find the lending laws that pertain to you, so using Tammy's list of state code details and the info from the paydayloan info website, here's a list of each states lending laws. This is a work in progress, so I'll add more as I read more about specific details of each state, but for now it can at least be a decent jumping off point for those of you dealing with PDLs. Smile

Posted: Thu Aug 17, 2006 9:36 am Subject:

ok, i'll post it as soon as I can figure out how, it keeps telling me the spam filter is blocking it.

Posted: Thu Aug 17, 2006 9:47 am Subject:

Here you go:

http://www.consumerlaw.org/action_agenda/payday_loans/content/NCLC_SUM MARY.pdf

Posted: Thu Aug 17, 2006 9:49 am Subject:

Here's another one:

www(dot)paydayloanlaws(dot)com/

Posted: Thu Aug 17, 2006 9:51 am Subject:

Thanks Sue; I actually have everything in one document by state, that's what I can;'t figure out how to post. Good thing my major wasn't computer science.

Posted: Thu Aug 17, 2006 9:54 am Subject:

You can email it to me if you want and I can see if I can post it if you want. Pretty much if Tammy has it I have it so I bet I have it somewhere. I keep all the site bookmarked, it's easier for me.

Posted: Thu Aug 17, 2006 9:57 am Subject:

Is this what you are talking about:

Posted: Thu Aug 17, 2006 9:58 am Subject:

Wow, that's ugly!!

Guest · Posted: Thu Aug 17, 2006 11:49 am Subject:

Lol, that is ugly- my eyes were crossing by the time I got down to the bottom of that! I've never seen that one before.

Posted: Thu Aug 17, 2006 11:56 am Subject:

No good way to post it, sorry everyone. If you really want the document pm me your email address and I can send it to you.

Posted: Thu Aug 17, 2006 12:11 pm Subject:

Very helpful links, Sue. Smile

This will only help. You can store it in your blog also if you have one. I will bookmark this page for sure.

Posted: Thu Aug 17, 2006 2:35 pm Subject: State Lending laws for everyone

Fantastic! This is great thank you. This is a big help to me and I am sure a lot of people
Thanks again

Posted: Tue Oct 10, 2006 2:21 pm Subject:

Can someone explain to me what the statues are under the al law for pdl? I am confused. Thanks

Posted: Tue Oct 10, 2006 2:27 pm Subject:

http://www.bank.state.al.us/regulations/loans/Main_Menu.htm Try this link, and look around I hope it helps.

Posted: Tue Oct 10, 2006 2:37 pm Subject:

According to AL law, Section 5-18A-12, for licensed deferred presentment transactions (payday loans) the max interest rate is 17.5%, and the largest the payday loan can be is $500. So the largest interest rate possible would be $87.50 on a $500 loan. I can assure you FSM and FRT are not licensed in AL, so they are both in violation of the interest caps set forth by AL state laws. This is what give you the power to only pay back the principal amount you borrowed. Hope that helps! Smile