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.

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

Clear Rate Caps that Prevent Evasions are Critical to Protecting Consumers from Unaffordable Loans

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

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

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