A guide to Payday Loans in
Washington D.C, USA.
What are the Citation (s) to Payday Loan or Small Loan Laws in Washington DC?
A: The relevant citation regarding Payday Loans in the Washington DC State Jurisdiction is D.C. Code Ann. § 26-301 et seq.
Q: Are Payday Loans legal in Washington DC?
A: Yes Payday Loans are legal in Washington DC (Applies to check cashers only)
Q: What is the Maximum Cash Advance Loan Amount in Washington DC?
A: The maximum Cash Advance or Payday Loan amount is $1000.
Q: What is the Payday Loan Term in Washington DC?
A: The maximum Payday Loan Term in Washington DC is 31 days.
Q: What is the Maximum Finance Rate and Fee for Cash Advance Loans in Washington DC?
A: The Maximum finance rate and fee for Cash Advance Loans in Washington DC is 10% of face amount + fee of $5: $0- $250; $10: $251-$500; $15: $501- $750; $20:$751-$1000
Q: What is the Finance charge for 14-day $100 payday loan in Washington DC State?
A: The Finance charge for 14-day $100 payday loan in Washington DC is $16.10
Q: What is the APR for 14-day $100 payday loan in Washington DC State?
A: The APR charge for 14-day $100 payday loan in Washington DC is 419 percent.
Q: Is there a limit on the number of payday loans I can take at one time?
A: It is not specified how many payday loans you can take at one time.
Q: Can the lender rollover a payday loan in Washington DC?
A: It is not specified if the lender can rollover (renew, extend) a payday loan.
Q: If I cannot repay my payday loan can the lender initiate a criminal action?
A: It is not specified if the lender can initiate a criminal action against the borrower.
Contact the Department Of Financial Institutions
If you have questions about payday loans please contact the Washington DC Department of Financial Institutions at:
D.C. Department of Insurance, Securities and Banking
Address: 810 First Street, NE, Suite 701 Washington, DC 20002
Phone: (202) 727- 8000
Fax: (202) 535-1197
Regulatory Contact: Howard Amer,, Director, Banking Bureau
Website: http://disb.dc.gov/disr/site/default.asp
Where can I find a payday loan store in Washington DC?
You can find the store nearest to your location by simply clicking on this link
loc: Washington DC
|
