Payday and 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 (2022)

June 28, 2022

Forty-five states and the District of Columbia (DC) currently cap interest rates and loan fees for at least some consumer installment loans, depending on the size of the loan. However, the caps vary greatly from state to state, and a few states do not cap interest rates at all.

Read More about: Predatory Installment Lending in the States (2022)

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.

Read Chapter One

Support NCLC

Please support NCLC's work to advance consumer rights and economic justice with a tax-deductible contribution today!