State: Arkansas $500, 6-month installment loan **: 17% $2000, 2-year installment loan **: 17% $500 cash advance repaid in 6 months: No open-end credit law $2000 cash advance repaid in 2 years: No open-end credit law Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 17% |
State: Maine $500, 6-month installment loan **: 30% $2000, 2-year installment loan **: 30% $500 cash advance repaid in 6 months: No cap except unconscionability $2000 cash advance repaid in 2 years: No cap except unconscionability Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 18% |
State: Vermont $500, 6-month installment loan **: 24% $2000, 2-year installment loan **: 21% $500 cash advance repaid in 6 months: No open-end credit law $2000 cash advance repaid in 2 years: No open-end credit law Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 18% |
State: Massachusetts $500, 6-month installment loan **: 37% $2000, 2-year installment loan **: 24% $500 cash advance repaid in 6 months: Cap on interest (18%) but not on all fees $2000 cash advance repaid in 2 years: Cap on interest (18%) but not on all fees Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 20% |
State: Colorado $500, 6-month installment loan **: 90% $2000, 2-year installment loan **: 31% $500 cash advance repaid in 6 months: Cap on interest (30%) but not on all fees $2000 cash advance repaid in 2 years: Cap on interest (24%) but not on all fees Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 21% |
State: Rhode Island $500, 6-month installment loan **: 35% $2000, 2-year installment loan **: 29% $500 cash advance repaid in 6 months: No cap on interest $2000 cash advance repaid in 2 years: No cap on interest Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 21% |
State: Minnesota $500, 6-month installment loan **: 51% $2000, 2-year installment loan **: 31% $500 cash advance repaid in 6 months: 89% $2000 cash advance repaid in 2 years: 36% Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 22% |
State: Kansas $500, 6-month installment loan **: 43% $2000, 2-year installment loan **: 32% $500 cash advance repaid in 6 months: No cap except unconscionability $2000 cash advance repaid in 2 years: No cap except unconscionability Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 23% |
State: Wyoming $500, 6-month installment loan **: 36% $2000, 2-year installment loan **: 31% $500 cash advance repaid in 6 months: Cap on interest (36%) but not on all fees $2000 cash advance repaid in 2 years: Cap on interest (31%) but not on all fees Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 23% |
State: District of Columbia $500, 6-month installment loan **: 27% $2000, 2-year installment loan **: 25% $500 cash advance repaid in 6 months: No open-end credit law $2000 cash advance repaid in 2 years: No open-end credit law Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 24% |
State: Florida $500, 6-month installment loan **: 48% $2000, 2-year installment loan **: 31% $500 cash advance repaid in 6 months: 48% $2000 cash advance repaid in 2 years: 34% Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 24% |
State: Hawaii $500, 6-month installment loan **: 25% $2000, 2-year installment loan **: 31% $500 cash advance repaid in 6 months: Cap on interest (24%) but not on all fees $2000 cash advance repaid in 2 years: Cap on interest (24%) but not on all fees Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 24% |
State: Kentucky $500, 6-month installment loan **: 47% $2000, 2-year installment loan **: 39% $500 cash advance repaid in 6 months: No open-end credit law $2000 cash advance repaid in 2 years: No open-end credit law Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 24% |
State: Nebraska $500, 6-month installment loan **: 48% $2000, 2-year installment loan **: 30% $500 cash advance repaid in 6 months: 48% $2000 cash advance repaid in 2 years: 30% Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 24% |
State: Alaska $500, 6-month installment loan **: 36% $2000, 2-year installment loan **: 31% $500 cash advance repaid in 6 months: 36% $2000 cash advance repaid in 2 years: 31% Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 25% |
State: Connecticut $500, 6-month installment loan **: 36% $2000, 2-year installment loan **: 36% $500 cash advance repaid in 6 months: 36% $2000 cash advance repaid in 2 years: 36% Legislative changes since 2015: Amended law in 2016 to raise allowable interest rate to 36% but requiring it to include all fees. $10,000 Five-Year Loan**: 25% |
State: Indiana $500, 6-month installment loan **: 71% $2000, 2-year installment loan **: 39% $500 cash advance repaid in 6 months: Cap on interest (78%) but not on all fees $2000 cash advance repaid in 2 years: Cap on interest (41%) but not on all fees Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 25% |
State: Maryland $500, 6-month installment loan **: 33% $2000, 2-year installment loan **: 30% $500 cash advance repaid in 6 months: Cap on interest (33%) but not on all fees $2000 cash advance repaid in 2 years: 33% Legislative changes since 2015: Placed 33% cap, including all fees, on open-end credit in 2016. $10,000 Five-Year Loan**: 25% |
State: New York $500, 6-month installment loan **: 25% $2000, 2-year installment loan **: 25% $500 cash advance repaid in 6 months: 25% $2000 cash advance repaid in 2 years: 25% Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 25% |
State: Oklahoma $500, 6-month installment loan **: 108% $2000, 2-year installment loan **: 27% $500 cash advance repaid in 6 months: Cap on interest (27%) but not on all fees $2000 cash advance repaid in 2 years: Cap on interest (27%) but not on all fees Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 25% |
State: Michigan $500, 6-month installment loan **: 43% $2000, 2-year installment loan **: 30% $500 cash advance repaid in 6 months: Cap on interest (25%) but not on all fees $2000 cash advance repaid in 2 years: Cap on interest (25%) but not on all fees Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 26% |
State: Mississippi $500, 6-month installment loan **: 305% $2000, 2-year installment loan **: 59% $500 cash advance repaid in 6 months: Cap on interest (21%) but not on all fees $2000 cash advance repaid in 2 years: Cap on interest (21%) but not on all fees Legislative changes since 2015: 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%. $10,000 Five-Year Loan**: 26% |
State: Pennsylvania $500, 6-month installment loan **: 27% $2000, 2-year installment loan **: 24% $500 cash advance repaid in 6 months: 59% $2000 cash advance repaid in 2 years: 29% Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 26% |
State: Tennessee $500, 6-month installment loan **: 94% $2000, 2-year installment loan **: 41% $500 cash advance repaid in 6 months: 279% $2000 cash advance repaid in 2 years: 279% Legislative changes since 2015: Increased allowable interest rates under Industrial Loan Act. $10,000 Five-Year Loan**: 26% |
State: Louisiana $500, 6-month installment loan **: 85% $2000, 2-year installment loan **: 38% $500 cash advance repaid in 6 months: 85% $2000 cash advance repaid in 2 years: 39% Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 27% |
State: North Carolina $500, 6-month installment loan **: 16% $2000, 2-year installment loan **: 31% $500 cash advance repaid in 6 months: 18% $2000 cash advance repaid in 2 years: 18% Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 27% |
State: Washington $500, 6-month installment loan **: 39% $2000, 2-year installment loan **: 29% $500 cash advance repaid in 6 months: Cap on interest (25%) but not on all fees $2000 cash advance repaid in 2 years: Cap on interest (25%) but not on all fees Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 27% |
State: West Virginia $500, 6-month installment loan **: 38% $2000, 2-year installment loan **: 33% $500 cash advance repaid in 6 months: Cap on interest (38%) but not on all fees $2000 cash advance repaid in 2 years: Cap on interest (33%) but not on all fees Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 27% |
State: Arizona $500, 6-month installment loan **: 54% $2000, 2-year installment loan **: 41% $500 cash advance repaid in 6 months: 54% $2000 cash advance repaid in 2 years: 41% Legislative changes since 2015: Amended consumer lending law to allow lenders to pack loans with more types of add-on products. $10,000 Five-Year Loan**: 30% |
State: New Jersey $500, 6-month installment loan **: 30% $2000, 2-year installment loan **: 30% $500 cash advance repaid in 6 months: 65% $2000 cash advance repaid in 2 years: 35% Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 30% |
State: Texas $500, 6-month installment loan **: 93% $2000, 2-year installment loan **: 35% $500 cash advance repaid in 6 months: 62% $2000 cash advance repaid in 2 years: 28% Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 30% |
State: Illinois $500, 6-month installment loan **: 99% $2000, 2-year installment loan **: 80% $500 cash advance repaid in 6 months: No cap on interest $2000 cash advance repaid in 2 years: No cap on interest Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 36% |
State: Montana $500, 6-month installment loan **: 36% $2000, 2-year installment loan **: 36% $500 cash advance repaid in 6 months: No open-end credit law $2000 cash advance repaid in 2 years: No open-end credit law Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 36% |
State: New Hampshire $500, 6-month installment loan **: 36% $2000, 2-year installment loan **: 36% $500 cash advance repaid in 6 months: 170% $2000 cash advance repaid in 2 years: Cap on interest (53%) but not on all fees Legislative changes since 2015: Imposed cap in 2016 on previously uncapped fees for open-end credit (but cap is very high). $10,000 Five-Year Loan**: 36% |
State: Oregon $500, 6-month installment loan **: 36% $2000, 2-year installment loan **: 36% $500 cash advance repaid in 6 months: 36% $2000 cash advance repaid in 2 years: 36% Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 36% |
State: South Dakota $500, 6-month installment loan **: 36% $2000, 2-year installment loan **: 36% $500 cash advance repaid in 6 months: 36% $2000 cash advance repaid in 2 years: 36% Legislative changes since 2015: Passed a ballot initiative in 2016, imposing 36% cap on all loans. $10,000 Five-Year Loan**: 36% |
State: Nevada $500, 6-month installment loan **: 40% $2000, 2-year installment loan **: 40% $500 cash advance repaid in 6 months: 54% $2000 cash advance repaid in 2 years: 42% Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 40% |
State: Georgia $500, 6-month installment loan **: 61% $2000, 2-year installment loan **: 32% $500 cash advance repaid in 6 months: No open-end credit law $2000 cash advance repaid in 2 years: No open-end credit law Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 60% |
State: Iowa $500, 6-month installment loan **: 36% $2000, 2-year installment loan **: 36% $500 cash advance repaid in 6 months: No cap except unconscionability $2000 cash advance repaid in 2 years: No cap except unconscionability Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: 32% |
State: Alabama $500, 6-month installment loan **: 94% $2000, 2-year installment loan **: No cap except unconscionability $500 cash advance repaid in 6 months: 39% $2000 cash advance repaid in 2 years: No cap except unconscionability Legislative changes since 2015: 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. $10,000 Five-Year Loan**: No cap except unconscionability |
State: California $500, 6-month installment loan **: 45% $2000, 2-year installment loan **: 25% $500 cash advance repaid in 6 months: Cap on interest (45%) but not on all fees $2000 cash advance repaid in 2 years: Cap on interest (25%) but not on all fees Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: No cap except unconscionability |
State: Idaho $500, 6-month installment loan **: No cap except unconscionability $2000, 2-year installment loan **: No cap except unconscionability $500 cash advance repaid in 6 months: No cap except unconscionability $2000 cash advance repaid in 2 years: No cap except unconscionability Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: No cap except unconscionability |
State: New Mexico $500, 6-month installment loan **: No cap except unconscionability $2000, 2-year installment loan **: 175% $500 cash advance repaid in 6 months: No cap except unconscionability $2000 cash advance repaid in 2 years: No cap except unconscionability Legislative changes since 2015: Effective Jan. 1, 2018, has imposed 175% cap. $10,000 Five-Year Loan**: No cap except unconscionability |
State: South Carolina $500, 6-month installment loan **: 72% $2000, 2-year installment loan **: No cap except unconscionability $500 cash advance repaid in 6 months: Cap on interest (18%) but not on all fees $2000 cash advance repaid in 2 years: No cap except unconscionability Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: No cap except unconscionability |
State: Utah $500, 6-month installment loan **: No cap except unconscionability $2000, 2-year installment loan **: No cap except unconscionability $500 cash advance repaid in 6 months: No cap except unconscionability $2000 cash advance repaid in 2 years: No cap except unconscionability Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: No cap except unconscionability |
State: Wisconsin $500, 6-month installment loan **: No cap except unconscionability $2000, 2-year installment loan **: No cap except unconscionability $500 cash advance repaid in 6 months: No cap except unconscionability $2000 cash advance repaid in 2 years: No cap except unconscionability Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: No cap except unconscionability |
State: Virginia $500, 6-month installment loan **: 36% $2000, 2-year installment loan **: 36% $500 cash advance repaid in 6 months: No cap on interest $2000 cash advance repaid in 2 years: No cap on interest Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: No cap |
State: North Dakota $500, 6-month installment loan **: 28% $2000, 2-year installment loan **: No cap $500 cash advance repaid in 6 months: No open-end credit law $2000 cash advance repaid in 2 years: No open-end credit law Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: No cap |
State: Ohio $500, 6-month installment loan **: No cap $2000, 2-year installment loan **: 33% $500 cash advance repaid in 6 months: No cap on interest $2000 cash advance repaid in 2 years: No cap on interest Legislative changes since 2015: 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. $10,000 Five-Year Loan**: No cap |
State: Delaware $500, 6-month installment loan **: No cap $2000, 2-year installment loan **: No cap $500 cash advance repaid in 6 months: No cap $2000 cash advance repaid in 2 years: No cap Legislative changes since 2015: No changes affecting APRs for these loans. $10,000 Five-Year Loan**: No cap |
State: Missouri $500, 6-month installment loan **: No cap $2000, 2-year installment loan **: No cap $500 cash advance repaid in 6 months: No cap $2000 cash advance repaid in 2 years: No cap Legislative changes since 2015: Amended law to increase a loan fee from $75 to $100. $10,000 Five-Year Loan**: No cap |
State: Z-Note $500, 6-month installment loan **: No cap except unconscionability:** ID, NM, UT, WI || No cap: DE, MO, OH $2000, 2-year installment loan **: No cap except unconscionability:** AL, ID, SC, UT, WI || No cap: DE, MO, ND $500 cash advance repaid in 6 months: $2000 cash advance repaid in 2 years: Legislative changes since 2015: $10,000 Five-Year Loan**: No cap except unconscionability:** AL, CA, ID, NM, SC, UT, WI || No cap: DE, MO, ND, OH, VA |