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Consumer Credit Regulation: Colo. Rev. Stat. §§ 5-3.1-101 to 5-3.1-123 (Deferred Deposit Loan Act).

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.

Size and length of loans to which the statute applies, and any restrictions in the statute on these features: Loans for more than $500 prohibited. § 5-3.1-106. No maximum loan term, but minimum is six months. § 5-3.1-103.

Consumer Credit Regulation: Del. Code Ann. tit. 5, §§ 2227 to 2245 (Regulated Closed-End Credit, Licensed Lenders).

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).

Consumer Credit Regulation: Idaho Code §§ 28-41-101 to 28-49-107 (Credit Code).

What types of lenders does it apply to (e.g., banks vs. non-banks)? 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).

Consumer Credit Regulation: 815 Ill. Comp. Stat. § 205/4a (Interest Act).

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.

Size and length of loans to which the statute applies, and any restrictions in the statute on these features: Applies to loans of $25,000 or less, payable in two or more installments over no more than 181 months. § 205/4a(a).

Consumer Credit Regulation: Kan. Stat. Ann. §§ 16a-1-101 to 16a-9-102 (Consumer Credit Code).

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(5). 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. § 16a-1-202.

Consumer Credit Regulation: Md. Code Ann., Com. Law §§ 12-301 to 12-317 (West) (Consumer Loan Law—Credit Provisions); Md. Code. Ann., Fin. Inst. §§ 11-201 to 11-223 (West) (Consumer Loan Law—Licensing Provisions) (These two laws are cited jointly as the Maryland Consumer Loan Law).

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).

Consumer Credit Regulation: Mass. Gen. Laws ch. 140, § 90.

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.

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.

Consumer Credit Regulation: Mich. Comp. Laws §§ 445.1851 to 445.1864 (Credit Reform Act).

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.)

Consumer Credit Regulation: Miss. Code Ann. §§ 75-67-39, 75-67-41 (Installment Loans).

What types of lenders does it apply to (e.g., banks vs. non-banks)? “Any persons, natural or artificial, including domestic and foreign corporations, lending money in this state.” § 75-67-39.

Licensure requirements and implications of licensure: Statute is silent.

Size and length of loans to which the statute applies, and any restrictions in the statute on these features: Statute is silent.

Other restrictions on applicability of statute (e.g., it only applies if lender takes a mortgage on real property): Statute is silent.

Consumer Credit Regulation: Miss. Code Ann. §§ 75-67-175 to 75-67-185 (Consumer Alternative Installment Loan Act) (effective July 1, 2016).

What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies to persons, partnerships, associations, limited liability companies, and corporations. Does not apply to persons engaged in the business of extending credit to borrowers primarily for business or commercial purposes. § 75-67-177.

Licensure requirements and implications of licensure: Lender must have a license under the Small Loan Privilege Tax Law. § 75-67-177.

Consumer Credit Regulation: Miss. Code Ann. §§ 75-67-601 to 75-67-639 (Credit Availability Act).

What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies to licensees under the Act, but does not apply to banks, trust companies, savings associations, savings and loan associations, savings banks, or credit unions that are chartered under Mississippi or federal law and domiciled in Mississippi. § 75-67-607.

Licensure requirements and implications of licensure: Must have license under this Act. Transaction that would be subject to this Act that is made by an unlicensed person is void. § 75-67-605(1).

Consumer Credit Regulation: Mont. Code Ann. §§ 32-5-101 to 32-5-409 (Consumer Loan Act).

What types of lenders does it apply to (e.g., banks vs. non-banks)? Does not apply to a bank, building and loan association, savings and loan association, trust company, or credit union. Does not apply to a person who makes fewer than four consumer loans a year with the person’s own funds, does not represent that the person is a licensee, and complies with the provisions of § 31-1-1. § 32-5-103(5).

Consumer Credit Regulation: N.H. Rev. Stat. Ann. §§ 399-A:1 to 399-A:24 (Small Loans).

What types of lenders does it apply to (e.g., banks vs. non-banks)? Any person engaged in the business of making small loans, including closed-end loans, open-end loans, title loans, and payday loans. §§ 399-A:1(XX), 399-A:2. Chapter does not apply to banks, trust companies, insurance companies, savings or building and loan associations, credit unions, or lenders that exclusively make educational loans. §§ 399-A:1(XII), 399-A:2(III), 399-A:3.

Consumer Credit Regulation: N.J. Stat. Ann. §§ 17:11C-1 to 17:11C-49 (West) (New Jersey Consumer Finance Licensing Act).

What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies to anyone making covered loans, but depository institutions, trust companies, insurance companies, and pawnbrokers are exempt. § 17:11C-6.

Licensure requirements and implications of licensure: License required to engage in consumer loan business, i.e., make consumer loans of $50,000 or less at rates greater than a non-licensee may charge. § 17:11C-3. Loan made without a required license is void unless lender meets statutory good faith error requirements. § 17:11C-33(b).

Consumer Credit Regulation: N.Y. Banking Law §§ 340 to 361 (McKinney) (Licensed Lender Law).

What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies to anyone making loans of $25,000 or less to an individual for personal, family, household, or investment purposes (up to $50,000 if a business or commercial loan) who charges more than otherwise legal rate. Does not apply to pawnbrokers licensed under Gen. Bus. Law §§ 40–55. Banking Law § 340.

Consumer Credit Regulation: N.C. Gen. Stat. §§ 24-1 to 24-11.2 (Interest—General Provisions).

What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies to all lenders. §§ 24-1.1(a), 53-141(2) (applying these rates to industrial banks).

Licensure requirements and implications of licensure: Not a licensing statute.

Size and length of loans to which the statute applies, and any restrictions in the statute on these features: Does not apply to loans over $300,000. § 24-1.1(f).