PLEASE NOTE: Please note the summaries should be used for general informational purposes and not as a legal reference. NCSL is unable to provide guidance to citizens or businesses regarding payday loan laws and practices. If you have questions regarding the application of a state law to a specific payday loan, please contact the Office of the Attorney General in your state.
This page summarizes state statutes regarding payday lending or deferred presentment, which features single-payment, short-term loans based on personal checks held for future deposit or on electronic access to personal checking accounts.
Thirty-eight states have specific statutes that allow for payday lending. Eleven jurisdictions do not have specific payday lending statutory provisions and/or require lenders to comply with interest rate caps on consumer loans: Connecticut, Guam, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Puerto Rico, Vermont, Virgin Islands and West Virginia. Arizona and North Carolina allowed pre-existing payday lending statutes to sunset. Arkansas repealed its pre-existing statute in 2011.