Status of payday loans in Maine. State Information

Maybe people ask about payday loans. Is it legal? How much will it cost? How to get it?
The second state for today is Maine state..

Maine State Information

Legal Status: Legal (Lower Cost)

Citation:
Maine's UCCC applies. Me. Rev. Stat. tit. 9-A § 1-201,  2-401.   32 Me. Rev. Stat. § 6138(4((D) prohibits check cashers from advancing money on a postdated check.  Supervised Lenders are exempt from that ban.

Small Loan Rate Cap
30% per year on amounts up to $2,000 or a fee of $5 for amounts financed up to $75; $15 minimum charge for amounts financed of $75.01-$249.99; or $25 for amounts financed of $250 or more.

Where to Complain, Get Information:
Regulator: Bureau of Consumer Credit Protection
Address: Department of Professional and Financial Regulation, 35 State House Station Augusta ME 04333
Phone: 800-332-8529
Fax: (207) 582-7699

Regulator’s Website: http://www.maine.gov/pfr/consumercredit/index.shtml

Find more info about Payday loans in Maine here: http://easyloansusa.net/maine/

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