High-Cost Credit

Payday & Installment Loans

Payday lenders put consumers in a debt trap with balloon-payment loans of 300% APR or more. High-cost installment loans and lines of credit are a longer, deeper debt trap. NCLC fights predatory lending and supports affordable small dollar loans.

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2025)

December 19, 2025

© Copyright 2025, National Consumer Law Center, Inc. All rights reserved. Caps on interest rates and junk fees are the primary vehicle by which states protect consumers from predatory lending. Forty-five states and the District of Columbia currently cap interest rates and loan fees for at least some consumer installment loans, depending on the size…

Read More about: Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2025)
December 17, 2025
March 6, 2024

Recent

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Coalition Letter in Support of the Predatory Lending Elimination Act

February 11, 2026

Broad Coalition Supports New Senate Bill to Cap Interest Rates for Loans

February 11, 2026

Earned Wage Payday Loans Compound the Affordability Problem

February 10, 2026

Written Testimony in Support of Maryland Earned Wage Revisions

January 29, 2026

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2025)

December 19, 2025

Fact Sheet: State Annual Percentage Rate (APR) Caps for $500, $2,000, and $10,000 Installment Loans

December 18, 2025

Burkhardt et al. v. MoneyLion Technologies Inc. et al.

October 17, 2025

MoneyLion’s Costly “0% APR” “Earned Wage” Payday Loans

May 22, 2025

CFPB Allows Payday Lenders to Inflict Multiple NSF and Overdraft Fees on Struggling Consumers

March 28, 2025

Comments & Letters

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Coalition Letter in Support of the Predatory Lending Elimination Act

February 11, 2026

Letter in Opposition to New Mexico HB 59

January 31, 2025

Letter Opposing HR 8338 (Kim), Clarity in Lending Act

May 15, 2024

Coalition Letter to the CDFI Fund Regarding Changes to the Certification Application

December 5, 2022

Group Comments to the CDFI Fund Regarding Changes to the Certification Application

December 5, 2022

Consumer Stories Show Congress Must Protect Consumers from Predatory Lending

February 1, 2022

Coalition Letter Supporting the Veterans and Consumers Fair Credit Act

July 29, 2021

Comments to NCUA Regarding CUSO Proposed Rule

April 30, 2021

Letter Regarding Use of the Congressional Review Act to Invalidate OCC True Lender Rule That Facilitates Predatory Lending

April 21, 2021

Reports

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Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2025)

December 19, 2025

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2024)

November 21, 2024

Larger Loans Need Lower Rates: A 50-State Survey of the APRs Allowed for a $10,000 Loan

March 6, 2024

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2023)

November 21, 2023

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2022)

June 28, 2022

Predatory Auto Repair Loans by TAB Bank and EasyPay Finance

May 11, 2022

Predatory Puppy Loans by TAB Bank and EasyPay Finance

February 1, 2022

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2021)

May 27, 2021

Predatory Installment Lending in the States: 2020

February 28, 2020

Issue Briefs

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Fact Sheet: State Annual Percentage Rate (APR) Caps for $500, $2,000, and $10,000 Installment Loans

December 18, 2025

MoneyLion’s Costly “0% APR” “Earned Wage” Payday Loans

May 22, 2025

Comparing APRs on Small Loan Alternatives

January 7, 2025

State Rate Caps for $500 and $2,000 Loans

November 15, 2023

Data on Earned Wage Advances and Fintech Payday Loan “Tips” Show High Costs for Low-Wage Workers

April 10, 2023

What States Can Do to Help Consumers: High Cost Loans

March 15, 2022

After Payday Loans: Consumers Find Better Ways to Cope with Financial Challenges

March 1, 2022

Instead of Predatory Loans, a Variety of Strategies Can Help People to Address Budget Shortfalls

February 1, 2022

Federal Ability-To-Repay Requirements for Small Dollar Loans

November 1, 2021

Press Releases & News

View All for Press Releases & News
Broad Coalition Supports New Senate Bill to Cap Interest Rates for Loans

February 11, 2026

Earned Wage Payday Loans Compound the Affordability Problem

February 10, 2026

CFPB Allows Payday Lenders to Inflict Multiple NSF and Overdraft Fees on Struggling Consumers

March 28, 2025

CFPB Rescinds 2020 Advisory Opinion on Earned Wage Advances

January 16, 2025

50-State Survey: APRs Increase As States Allow Lenders to Pile on Junk Fees

November 21, 2024

50-State Survey Finds Larger Loans Need Lower Rates

March 6, 2024

Senate Introduces 36% Rate Cap Bill to Curb High-Cost Loans, Junk Fees

December 15, 2023

2023 Update: Some States Tighten Rules Against High-Cost Installment Loans; Others Increase Interest Rates and Allow Junk Fees to Pile On

November 21, 2023

Consumers Need Strong Protections from Fintech Cash Advances that Create Debt Traps

October 11, 2023

Legislation

View All for Legislation
Written Testimony in Support of Maryland Earned Wage Revisions

January 29, 2026

Letter in Opposition to New Mexico HB 59

January 31, 2025

Letter Opposing HR 8338 (Kim), Clarity in Lending Act

May 15, 2024

Testimony in Opposition to H4456: An Act Relative to Financial Technology Services

March 22, 2024

H.R. 9307: The SAFE Lending Act of 2022

November 17, 2022

Coalition Letter Supporting the Veterans and Consumers Fair Credit Act

July 29, 2021

From the NCLC Digital Library

Consumer Credit Regulation

Innovative thinking and precise authority on predatory lending and other consumer credit, including the latest payday and installment loans.

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