Key Charts - Non-Bank Financial Intermediaries

Payday Lending in the United States

  • There is limited regulation of payday lending in the U.S. Ten states, plus the District of Columbia, prohibit payday lending altogether. Thirty-one states have placed regulatory constraints on the industry.
  • Regulations imposed by state governments include caps on fees and loan amounts and limits on the number of times a loan can be renewed. For example, four states (CT, MT, NH, and OR) set maximum APRs for 14-day loans of $100 , while six (DE, ID, NV, SD, UT, and WI) set no limit. Notably, Missouri has the highest allowable rate 1,950 percent.
  • In absolute terms, Texas, California and Kentucky have the most payday lending stores, with more than 1,000 operating in each state.
  • Read corresponding blog entry.

Sources: Survey of state regulatory authorities, Consumer Federation of America (paydayloaninfo.org) and authors.

  • The source of the data in this chart has been taken from "Do state regulations affect payday lender concentration?" by James R. Barth, Jitka Hilliard, John S. Jahera, Yanfei Sun.

    Read corresponding paper.

  • Chart prepared by Katie Lebling

    Payday Lending in the United States

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