Pay day loan laws and regulations for OKC

Numerous regulations control short-term loans. In Oklahoma, payday loan providers must stick to the Oklahoma Deferred Deposit Lending Act. That legislation sets the finance charges, or rates of interest, a payday lender can charge. Oklahoma City payday loan providers can’t charge a lot more than $15 in interest per $100 on loans as much as $300. They can’t charge significantly more than an extra ten dollars cost for every single $100 above $300. This means you’ll spend $45 in interest for a $300 pay day loan and $65 in interest... Read The Rest →