Kansas Authorize High-Cost Payday Lending

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Kansas State Information


Legal Status: 
Legal

Citation:
Kan. Stat. Ann. § 16a-2-404

Loan Terms:
Maximum Loan Amount: $500
Loan Term: 7-30 days
Maximum Finance Rate and Fees: 15%
Finance Charge for 14-day $100 loan: $15
APR for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: Not Specified
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: One NSF fee
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Office of the State Bank Commissioner
Address: 700 SW Jackson, Suite 300 Topeka KS 66603
Phone: (785) 296-2266
Fax: (785) 296-0168

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