Consumer Credit Regulation: 12.2.4.25 Mississippi
In Mississippi, auto title lending is authorized by the state’s Title Pledge Act.128 Lenders are permitted to charge a “title pledge service charge” of 25% per month (300% per year).129 Auto title loans mature thirty days from the date of the transaction130 and may be rolled over for additional thirty-day periods.131 Beginning with the first rollover, the borrower is required to reduce the principal a