What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies to all persons who make or arrange deferred deposit loans (payday loans). § 5-3.1-102(5).
Licensure requirements and implications of licensure: Supervised lender’s license required to engage in business of deferred deposit loans. § 5-3.1-116.
What types of lenders does it apply to (e.g., banks vs. non-banks)? All lenders, except that licensed pawnbrokers, licensed collection agencies, certain servicers, passive buyers of small loans, and retail sellers that finance purchases or their goods are exempt from licensing requirements, and banks and credit unions and their subsidiaries are entirely exempt. § 36a-557.
What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies to all persons transacting the business of lending money. Excludes anyone making fewer than six loans within a twelve-month period and banks, federal credit unions, insurance companies, and anyone lending under other state or federal law. § 2202.
Licensure requirements and implications of licensure: Must have license to transact business of lending money. § 2202. Licensees may make closed-end loans within the limits of this statute. § 2228(a).
What types of lenders does it apply to (e.g., banks vs. non-banks)? Businesses engaged in lending money. Licensure law does not apply to “the legitimate business” of national banks, licensed bankers, licensed mortgage brokers, licensed mortgage lenders, trust companies, savings banks, building and loan associations, small business investment companies, or life insurance companies. § 26-910(a).
What types of lenders does it apply to (e.g., banks vs. non-banks)? Any lender except banks, savings banks, trust companies, building and loan associations, credit unions, or industrial loan and investment companies. A pawnbroker may not be licensed to transact business under the chapter. § 516.02(4).
Licensure requirements and implications of licensure: Must have license to engage in business of making “consumer finance loans.” § 516.02.
What types of lenders does it apply to (e.g., banks vs. non-banks)? The statute applies to persons that advertise, solicit, offer, or make installment loans or service installment loans made by others, excluding loans made by affiliated entities. § 7-3-3(6).
What types of lenders does it apply to (e.g., banks vs. non-banks)? Depository and non-depository financial services loan companies. §§ 412:9-100, 412:9-101.
Licensure requirements and implications of licensure: Must have license as financial services loan company to make loans at rates in excess of those permitted by other law. § 412:9-101.
What types of lenders does it apply to (e.g., banks vs. non-banks)? The statute prescribes maximum charges for all creditors, except those excluded, extending credit as a regular business. § 28-41-107. Does not apply to licensed pawnbrokers, extensions of credit to government agencies, sales of insurance, or certain transactions under public utility tariffs. § 28-41-202. Banks are exempt from licensing requirement. § 28-46-301(2).
What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies broadly to all installment lenders, but interest rate limits do not apply to most banks or to lenders licensed under Consumer Finance Act or Installment Loan Act. § 205/4a(a).
Licensure requirements and implications of licensure: Statute is silent.
Definition of loan: Statute is silent.
What types of lenders does it apply to (e.g., banks vs. non-banks)? The Act applies to persons, partnerships, associations, limited liability companies, or corporations that engage in the business of making loans of money. § 670/1. Does not apply to banks, savings and loan associations, savings banks, credit unions, or licensees under the Residential Mortgage License Act for residential mortgage loans made pursuant to that Act. Does not apply to business loans or payday loans. § 670/21.
What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies broadly to all creditors, except:
What types of lenders does it apply to (e.g., banks vs. non-banks)? Excludes banks, trust companies, building and loan associations, credit unions, licensed pawnbrokers, and domestic corporations operating under chapter 536A (Industrial Loan Law). § 536.20.
What types of lenders does it apply to (e.g., banks vs. non-banks)? Industrial loan companies are defined as corporations operating under the provisions of this law and engaged in the business of loaning money and charging interest or other compensation. § 536A.2(6). Does not apply to:
What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies generally to entities extending credit, § 537.1108, but excludes:
What types of lenders does it apply to (e.g., banks vs. non-banks)? Act applies to “consumer credit transactions,” broadly defined. § 16a-1-301(15) (renumbered as § 16a-1-301(19) effective Jan. 1, 2025). Excludes extensions of credit to government or governmental agencies, non-installment sales of insurance, certain transactions under public utility or common carrier tariffs, licensed pawnbrokers (except for disclosure requirements), and transactions covered by the insurance premium finance act.
What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies generally to lenders other than banks, savings banks, trust companies, savings and loan associations, agricultural cooperative associations, credit unions, and licensed pawnbrokers. § 286.4-410(2).
[Editor’s note: This subsection has been deleted.]
LOUISIANAWhat types of lenders does it apply to (e.g., banks vs. non-banks)? Relevant provisions apply to consumer loans, broadly defined by § 9:3516(14). Law does not apply to:
What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies to “consumer loans,” broadly defined by § 1-301(14). Does not apply to:
What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies to lenders if they make loans subject to this law, except that the depositories that are not required to be licensed are exempt. Com. Law § 12-302. Does not apply to loan made by an individual who does not make more than three loans in a calendar year and does not engage in the business of making loans. Does not apply to loan between an employer and an employee. Com. Law § 12-303(a)(3).
What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies to any “credit grantor,” defined to include, inter alia, any legal or commercial entity making a loan or other extension of credit which is incorporated, chartered, or licensed under state or federal law, and subject to supervision, examination, and regulation, pursuant to state or federal law; any money transmitter licensed in Maryland; or any retailer. Definition includes any bank, trust company, depository institution, or savings bank having a branch in the state. Com.
What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies generally to all loans.
Licensure requirements and implications of licensure: Statute is silent.
Definition of loan: Statute is silent.
Size and length of loans to which the statute applies, and any restrictions in the statute on these features: Less than $1,000.
Other restrictions on applicability of statute (e.g., it only applies if lender takes a mortgage on real property): Statute is silent.
What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies generally to all lenders in business of making loans of $6,000 or less at more than 12%. Ch. 140, § 96.
What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies generally to lenders, but exempts banks, savings banks, industrial banks, trust companies, building and loan associations, credit unions, and licensed pawnbrokering. §§ 493.2, 493.20.
Licensure requirements and implications of licensure: Must have license to make loans at rate higher than non-licensee can charge. § 493.2(1).
What types of lenders does it apply to (e.g., banks vs. non-banks)? Act applies to extensions of credit made by regulated lenders. § 445.1854. “Regulated lender” means a depository institution, a licensee under the consumer financial services act, the secondary mortgage loan act, the motor vehicle sales finance act, or the regulatory loan act (summarized above), or a seller under the home improvement finance act. § 445.1852(i). (Any entity, whether licensed or not, may loan money at the legal interest rate set by § 438.31.)