Arkansas Payday Loans
Payday Loans in Arkansas
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Arkansas Payday Loan Laws and Arkansas Loan Regulations
Arkansas Maximum APR = $
Arkansas Maxmium Fee Per $100 Borrowed = $ n/a
Senate Bill 948 amended existing law protecting the military, and some licensing requirements. Under California law, a payday loan cannot exceed $300 and the maximum fee a lender can charge is 15% of the face amount of the check. This fee often adds up to an annual percentage rate (APR) that can exceed 400%. APR is the total interest rate that a borrower pays annually on a loan, including all fees and charges. APR is used to calculate the total cost of borrowing money. By comparison, a loan for a new car may have an APR of 7%. In California, all payday lenders must be licensed by the Department of Corporations. Go to the Department’s website or call Toll-Free to verify a license or to file a complaint. California Payday Lending Laws Protect You:









