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29 KiB
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435 lines
29 KiB
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<!DOCTYPE HTML><html><head>
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<title>State Installment Loan Rates Chart - Google Fusion Tables</title>
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<style type="text/css">
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html, body {
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margin: 0;
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padding: 0;
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height: 100%;
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}
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</style></head>
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<body><table cellpadding="0" cellspacing="0"><tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Arkansas<br>
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<b>$500, 6-month installment loan **:</b> 17%<br>
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<b>$2000, 2-year installment loan **:</b> 17%<br>
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<b>$500 cash advance repaid in 6 months:</b> No open-end credit law<br>
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<b>$2000 cash advance repaid in 2 years:</b> No open-end credit law<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 17%
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</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Maine<br>
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<b>$500, 6-month installment loan **:</b> 30%<br>
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<b>$2000, 2-year installment loan **:</b> 30%<br>
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<b>$500 cash advance repaid in 6 months:</b> No cap except unconscionability<br>
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<b>$2000 cash advance repaid in 2 years:</b> No cap except unconscionability<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 18%
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</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Vermont<br>
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<b>$500, 6-month installment loan **:</b> 24%<br>
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<b>$2000, 2-year installment loan **:</b> 21%<br>
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<b>$500 cash advance repaid in 6 months:</b> No open-end credit law<br>
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<b>$2000 cash advance repaid in 2 years:</b> No open-end credit law<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 18%
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</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Massachusetts<br>
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<b>$500, 6-month installment loan **:</b> 37%<br>
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<b>$2000, 2-year installment loan **:</b> 24%<br>
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<b>$500 cash advance repaid in 6 months:</b> Cap on interest (18%) but not on all fees<br>
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<b>$2000 cash advance repaid in 2 years:</b> Cap on interest (18%) but not on all fees<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 20%
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</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Colorado<br>
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<b>$500, 6-month installment loan **:</b> 90%<br>
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<b>$2000, 2-year installment loan **:</b> 31%<br>
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<b>$500 cash advance repaid in 6 months:</b> Cap on interest (30%) but not on all fees<br>
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<b>$2000 cash advance repaid in 2 years:</b> Cap on interest (24%) but not on all fees<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 21%
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</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Rhode Island<br>
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<b>$500, 6-month installment loan **:</b> 35%<br>
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<b>$2000, 2-year installment loan **:</b> 29%<br>
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<b>$500 cash advance repaid in 6 months:</b> No cap on interest<br>
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<b>$2000 cash advance repaid in 2 years:</b> No cap on interest<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 21%
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</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Minnesota<br>
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<b>$500, 6-month installment loan **:</b> 51%<br>
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<b>$2000, 2-year installment loan **:</b> 31%<br>
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<b>$500 cash advance repaid in 6 months:</b> 89%<br>
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<b>$2000 cash advance repaid in 2 years:</b> 36%<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 22%
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</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Kansas<br>
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<b>$500, 6-month installment loan **:</b> 43%<br>
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<b>$2000, 2-year installment loan **:</b> 32%<br>
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<b>$500 cash advance repaid in 6 months:</b> No cap except unconscionability<br>
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<b>$2000 cash advance repaid in 2 years:</b> No cap except unconscionability<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 23%
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</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Wyoming<br>
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<b>$500, 6-month installment loan **:</b> 36%<br>
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<b>$2000, 2-year installment loan **:</b> 31%<br>
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<b>$500 cash advance repaid in 6 months:</b> Cap on interest (36%) but not on all fees<br>
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<b>$2000 cash advance repaid in 2 years:</b> Cap on interest (31%) but not on all fees<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 23%
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</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> District of Columbia<br>
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<b>$500, 6-month installment loan **:</b> 27%<br>
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<b>$2000, 2-year installment loan **:</b> 25%<br>
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<b>$500 cash advance repaid in 6 months:</b> No open-end credit law<br>
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<b>$2000 cash advance repaid in 2 years:</b> No open-end credit law<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 24%
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</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Florida<br>
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<b>$500, 6-month installment loan **:</b> 48%<br>
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<b>$2000, 2-year installment loan **:</b> 31%<br>
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<b>$500 cash advance repaid in 6 months:</b> 48%<br>
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<b>$2000 cash advance repaid in 2 years:</b> 34%<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 24%
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</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Hawaii<br>
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<b>$500, 6-month installment loan **:</b> 25%<br>
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<b>$2000, 2-year installment loan **:</b> 31%<br>
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<b>$500 cash advance repaid in 6 months:</b> Cap on interest (24%) but not on all fees<br>
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<b>$2000 cash advance repaid in 2 years:</b> Cap on interest (24%) but not on all fees<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 24%
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</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Kentucky<br>
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<b>$500, 6-month installment loan **:</b> 47%<br>
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<b>$2000, 2-year installment loan **:</b> 39%<br>
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<b>$500 cash advance repaid in 6 months:</b> No open-end credit law<br>
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<b>$2000 cash advance repaid in 2 years:</b> No open-end credit law<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 24%
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</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Nebraska<br>
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<b>$500, 6-month installment loan **:</b> 48%<br>
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<b>$2000, 2-year installment loan **:</b> 30%<br>
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<b>$500 cash advance repaid in 6 months:</b> 48%<br>
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<b>$2000 cash advance repaid in 2 years:</b> 30%<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 24%
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</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Alaska<br>
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<b>$500, 6-month installment loan **:</b> 36%<br>
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<b>$2000, 2-year installment loan **:</b> 31%<br>
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<b>$500 cash advance repaid in 6 months:</b> 36%<br>
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<b>$2000 cash advance repaid in 2 years:</b> 31%<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 25%
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</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Connecticut<br>
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<b>$500, 6-month installment loan **:</b> 36%<br>
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<b>$2000, 2-year installment loan **:</b> 36%<br>
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<b>$500 cash advance repaid in 6 months:</b> 36%<br>
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<b>$2000 cash advance repaid in 2 years:</b> 36%<br>
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<b>Legislative changes since 2015:</b> Amended law in 2016 to raise allowable interest rate to 36% but requiring it to include all fees.<br>
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<b>$10,000 Five-Year Loan**:</b> 25%
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</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Indiana<br>
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<b>$500, 6-month installment loan **:</b> 71%<br>
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<b>$2000, 2-year installment loan **:</b> 39%<br>
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<b>$500 cash advance repaid in 6 months:</b> Cap on interest (78%) but not on all fees<br>
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<b>$2000 cash advance repaid in 2 years:</b> Cap on interest (41%) but not on all fees<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 25%
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</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Maryland<br>
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<b>$500, 6-month installment loan **:</b> 33%<br>
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<b>$2000, 2-year installment loan **:</b> 30%<br>
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<b>$500 cash advance repaid in 6 months:</b> Cap on interest (33%) but not on all fees<br>
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<b>$2000 cash advance repaid in 2 years:</b> 33%<br>
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<b>Legislative changes since 2015:</b> Placed 33% cap, including all fees, on open-end credit in 2016.<br>
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<b>$10,000 Five-Year Loan**:</b> 25%
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</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> New York<br>
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<b>$500, 6-month installment loan **:</b> 25%<br>
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<b>$2000, 2-year installment loan **:</b> 25%<br>
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<b>$500 cash advance repaid in 6 months:</b> 25%<br>
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<b>$2000 cash advance repaid in 2 years:</b> 25%<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 25%
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</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Oklahoma<br>
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<b>$500, 6-month installment loan **:</b> 108%<br>
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<b>$2000, 2-year installment loan **:</b> 27%<br>
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<b>$500 cash advance repaid in 6 months:</b> Cap on interest (27%) but not on all fees<br>
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<b>$2000 cash advance repaid in 2 years:</b> Cap on interest (27%) but not on all fees<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 25%
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</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Michigan<br>
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<b>$500, 6-month installment loan **:</b> 43%<br>
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<b>$2000, 2-year installment loan **:</b> 30%<br>
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<b>$500 cash advance repaid in 6 months:</b> Cap on interest (25%) but not on all fees<br>
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<b>$2000 cash advance repaid in 2 years:</b> Cap on interest (25%) but not on all fees<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 26%
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</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Mississippi<br>
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<b>$500, 6-month installment loan **:</b> 305%<br>
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<b>$2000, 2-year installment loan **:</b> 59%<br>
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<b>$500 cash advance repaid in 6 months:</b> Cap on interest (21%) but not on all fees<br>
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<b>$2000 cash advance repaid in 2 years:</b> Cap on interest (21%) but not on all fees<br>
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<b>Legislative changes since 2015:</b> Enacted Credit Availability Act in 2016, increasing allowable APR for $500 6-month loan from 52% to 305%; also enacted Consumer Alternative Installment Loan Act, increasing allowable APR for $2000 2-year loan from 39% to 59%.<br>
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<b>$10,000 Five-Year Loan**:</b> 26%
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</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Pennsylvania<br>
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<b>$500, 6-month installment loan **:</b> 27%<br>
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<b>$2000, 2-year installment loan **:</b> 24%<br>
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<b>$500 cash advance repaid in 6 months:</b> 59%<br>
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<b>$2000 cash advance repaid in 2 years:</b> 29%<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 26%
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</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Tennessee<br>
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<b>$500, 6-month installment loan **:</b> 94%<br>
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<b>$2000, 2-year installment loan **:</b> 41%<br>
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<b>$500 cash advance repaid in 6 months:</b> 279%<br>
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<b>$2000 cash advance repaid in 2 years:</b> 279%<br>
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<b>Legislative changes since 2015:</b> Increased allowable interest rates under Industrial Loan Act.<br>
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<b>$10,000 Five-Year Loan**:</b> 26%
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</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Louisiana<br>
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<b>$500, 6-month installment loan **:</b> 85%<br>
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<b>$2000, 2-year installment loan **:</b> 38%<br>
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<b>$500 cash advance repaid in 6 months:</b> 85%<br>
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<b>$2000 cash advance repaid in 2 years:</b> 39%<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 27%
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</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> North Carolina<br>
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<b>$500, 6-month installment loan **:</b> 16%<br>
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<b>$2000, 2-year installment loan **:</b> 31%<br>
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<b>$500 cash advance repaid in 6 months:</b> 18%<br>
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<b>$2000 cash advance repaid in 2 years:</b> 18%<br>
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<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
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<b>$10,000 Five-Year Loan**:</b> 27%
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</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
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<b>State:</b> Washington<br>
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<b>$500, 6-month installment loan **:</b> 39%<br>
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<b>$2000, 2-year installment loan **:</b> 29%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> Cap on interest (25%) but not on all fees<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> Cap on interest (25%) but not on all fees<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> 27%
|
||
|
|
</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> West Virginia<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 38%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 33%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> Cap on interest (38%) but not on all fees<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> Cap on interest (33%) but not on all fees<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> 27%
|
||
|
|
</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Arizona<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 54%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 41%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> 54%<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> 41%<br>
|
||
|
|
<b>Legislative changes since 2015:</b> Amended consumer lending law to allow lenders to pack loans with more types of add-on products.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> 30%
|
||
|
|
</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> New Jersey<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 30%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 30%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> 65%<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> 35%<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> 30%
|
||
|
|
</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Texas<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 93%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 35%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> 62%<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> 28%<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> 30%
|
||
|
|
</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Illinois<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 99%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 80%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> No cap on interest<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No cap on interest<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> 36%
|
||
|
|
</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Montana<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 36%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 36%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> No open-end credit law<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No open-end credit law<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> 36%
|
||
|
|
</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> New Hampshire<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 36%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 36%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> 170%<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> Cap on interest (53%) but not on all fees<br>
|
||
|
|
<b>Legislative changes since 2015:</b> Imposed cap in 2016 on previously uncapped fees for open-end credit (but cap is very high).<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> 36%
|
||
|
|
</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Oregon<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 36%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 36%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> 36%<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> 36%<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> 36%
|
||
|
|
</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> South Dakota<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 36%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 36%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> 36%<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> 36%<br>
|
||
|
|
<b>Legislative changes since 2015:</b> Passed a ballot initiative in 2016, imposing 36% cap on all loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> 36%
|
||
|
|
</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Nevada<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 40%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 40%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> 54%<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> 42%<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> 40%
|
||
|
|
</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Georgia<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 61%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 32%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> No open-end credit law<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No open-end credit law<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> 60%
|
||
|
|
</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Iowa<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 36%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 36%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> No cap except unconscionability<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No cap except unconscionability<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> 32%
|
||
|
|
</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Alabama<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 94%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> No cap except unconscionability<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> 39%<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No cap except unconscionability<br>
|
||
|
|
<b>Legislative changes since 2015:</b> Amended Small Loan Act to increase the charges lenders can impose for loans between $500 and $1500, and to allow lenders to pack loans with more kinds of add-on products.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> No cap except unconscionability
|
||
|
|
</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> California<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 45%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 25%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> Cap on interest (45%) but not on all fees<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> Cap on interest (25%) but not on all fees<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> No cap except unconscionability
|
||
|
|
</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Idaho<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> No cap except unconscionability<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> No cap except unconscionability<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> No cap except unconscionability<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No cap except unconscionability<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> No cap except unconscionability
|
||
|
|
</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> New Mexico<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> No cap except unconscionability<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 175%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> No cap except unconscionability<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No cap except unconscionability<br>
|
||
|
|
<b>Legislative changes since 2015:</b> Effective Jan. 1, 2018, has imposed 175% cap.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> No cap except unconscionability
|
||
|
|
</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> South Carolina<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 72%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> No cap except unconscionability<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> Cap on interest (18%) but not on all fees<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No cap except unconscionability<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> No cap except unconscionability
|
||
|
|
</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Utah<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> No cap except unconscionability<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> No cap except unconscionability<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> No cap except unconscionability<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No cap except unconscionability<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> No cap except unconscionability
|
||
|
|
</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Wisconsin<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> No cap except unconscionability<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> No cap except unconscionability<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> No cap except unconscionability<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No cap except unconscionability<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> No cap except unconscionability
|
||
|
|
</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Virginia<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 36%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 36%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> No cap on interest<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No cap on interest<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> No cap
|
||
|
|
</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> North Dakota<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> 28%<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> No cap <br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> No open-end credit law<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No open-end credit law<br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> No cap
|
||
|
|
</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Ohio<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> No cap <br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> 33%<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> No cap on interest<br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No cap on interest<br>
|
||
|
|
<b>Legislative changes since 2015:</b> Enacted a new law allowing 43% APR for $500 6-month loan and 35% for $2000 2-year loan, and authorizing these loans to have other dangerous features. Even these caps are ineffective because they are easily evaded by involving a credit services organization in the loan.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> No cap
|
||
|
|
</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Delaware<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> No cap <br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> No cap<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> No cap <br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No cap <br>
|
||
|
|
<b>Legislative changes since 2015:</b> No changes affecting APRs for these loans.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> No cap
|
||
|
|
</div></td></tr> <tr><td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Missouri<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> No cap <br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> No cap <br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> No cap <br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> No cap <br>
|
||
|
|
<b>Legislative changes since 2015:</b> Amended law to increase a loan fee from $75 to $100.<br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> No cap
|
||
|
|
</div></td> <td><div class="googft-card-view" style="font-family:sans-serif;width:450px;padding:4px;border:1px solid #ccc;overflow:hidden">
|
||
|
|
<b>State:</b> Z-Note<br>
|
||
|
|
<b>$500, 6-month installment loan **:</b> No cap except unconscionability:**
|
||
|
|
ID, NM, UT, WI
|
||
|
|
|| No cap:
|
||
|
|
DE, MO, OH<br>
|
||
|
|
<b>$2000, 2-year installment loan **:</b> No cap except unconscionability:**
|
||
|
|
AL, ID, SC, UT, WI
|
||
|
|
|| No cap:
|
||
|
|
DE, MO, ND<br>
|
||
|
|
<b>$500 cash advance repaid in 6 months:</b> <br>
|
||
|
|
<b>$2000 cash advance repaid in 2 years:</b> <br>
|
||
|
|
<b>Legislative changes since 2015:</b> <br>
|
||
|
|
<b>$10,000 Five-Year Loan**:</b> No cap except unconscionability:**
|
||
|
|
AL, CA, ID, NM, SC, UT, WI
|
||
|
|
|| No cap:
|
||
|
|
DE, MO, ND, OH, VA
|
||
|
|
</div></td></tr></table></body></html>
|