Alaska Stat. § 06.50.100 et seq.

Applicability: The statute applies to prohibit persons, including persons doing business from outside this state, from engaging in the business of making or offering to make deferred deposit advances without having a license under this chapter. Otherwise small loan act applies. Alaska Stat. § 06.20.230 et seq. (3% per month for amounts up to $759; 2% per month for amounts of $850- $9,999).

Licensing Requirements: Applicants for a license must have cash assets of at least $25,000 (for each location); demonstrate the financial responsibility, financial condition, business experience, character, and general fitness that reasonably warrant the department's belief that the applicant's business will be conducted lawfully and fairly; if the person has a physical business location in the state, have a physical business location that is accessible by and convenient to the public. An applicant for a license shall file a bond in the sum of $25,000 for a business with one location and $50,000 for a business with more than one location.

Disclosures: An advance must be documented in a written agreement signed by the advance recipient and on a form approved by the department. The agreement must clearly and conspicuously disclose the name of the licensee; the date of the advance; the principal amount of the advance; a statement of the total amount of fees that may be charged as a condition of making the advance, expressed both as a dollar amount and as an annual percentage rate; the repayment terms; the due date; an itemization of all disbursements, including disbursements to third parties; the name and title of the employee who signs the agreement on behalf of the licensee; and any other item required to be disclosed under state or federal law. A licensee shall post a conspicuous (legible and at least one inch in height) notice in each business location that discloses the fees that the licensee charges for advances. The fees in the notice must be expressed as a dollar amount, as an annual percentage rate for 14 days for each $100, and as an annual percentage rate for 30 days for each $100. Before disbursing funds, a licensee shall provide a clearly written statement separate from the written advance agreement required to be reviewed and signed by the advance recipient. The licensee shall keep the signed original and give a copy to the recipient. The disclosure statement must indicate the advance is intended to address short-term, not long-term, financial needs; include an explanation of all fees for advances and renewals of advances; state that the licensee may charge an advance recipient a bad check fee for costs if a payment is returned unpaid; state that, in the event of the advance recipient's default, the licensee may sue the recipient and recover up to $700 over the amount of the payment and, give the department's address and telephone number for receiving calls regarding customer complaints and concerns; state that the licensee may not accept collateral or services for an advance; state that the check given as security for the advance may be negotiated as part of the advance; state that the advance recipient may rescind the advance without cause at any time before the close of business on the business day following the day on which the licensee makes the advance by paying the principal amount of the advance to the licensee in cash or other immediately available funds; if the advance recipient rescinds under this paragraph, the origination fee is not refundable, but the licensee may not charge the recipient another fee, except for a bad check fee for costs if the payment is returned unpaid; state that a criminal action may not be brought against the advance recipient for failure to pay the advance; and include other information reasonably required by the department to inform and protect advance recipients.

Permitted charges: The licensee may collect a bad check fee. The licensee may initiate a court action against a defaulting recipient to recover damages and costs but the total of all damages and costs, including damages recovered, may not exceed the amount of the payment by $700. If a payment received from an advance recipient is returned unpaid to a licensee, the licensee may not collect the fees allowed by this chapter unless the fees are disclosed in the agreement for the advance.

Loan Terms: A licensee may not: make advances that exceed $500 outstanding in advances to the recipient at one time (minimum duration: 14 days); renew an advance more than 2 consecutive times. A licensee may only charge a nonrefundable origination fee in an amount not to exceed $5; and a fee that does not exceed $15 for each $100 of an advance, or 15 percent of the total amount of the advance, whichever is less. These fees are considered earned at the time of the transaction and may not be prorated. If an advance recipient defaults, before assigning the payment obligation to a third party for collection and before initiating a court action against the recipient, a licensee shall attempt in good faith to contact the advance recipient at reasonable times by telephone or mail to discuss the delinquency and to offer the recipient a payment plan under which the recipient may repay the delinquent advance over an extended period of time, which may not exceed six months. In addition to the contact required, the licensee shall send a certified letter to the recipient's last known address at least 15 days before the action that makes the payment plan offer described and that informs the recipient of the licensee's intent to proceed with a court action.

Prohibited Acts: A licensee may not: charge fees other than those allowed by this section; charge the advance Enforcement: License suspension or revocation.

Cal Fin. Code § 23000 et seq.

Applicability: This statute applies to those persons or entities included in the definition of “licensee:” any person who offers, originates, or makes a deferred deposit transaction, who arranges a deferred deposit transaction for a deferred deposit originator, who acts as an agent for a deferred deposit originator, or who assists a deferred deposit originator in the origination of a deferred deposit transaction. Otherwise consumer loan act applies. Cal Fin. Code § 22303 (2.5% per month on amount up to $225; 2% per month on $226 to $900; 1.5% per month on $901-$1650; 1% on $1,651-$2,500).

Exemptions: Persons or entities that are not "licensees."

Licensing Requirements: At the time of filing the application, the applicant shall pay to the commissioner $100 as a fee for investigating the application, and $200 as an application fee, and the cost of fingerprint processing. Applicants must have a net worth of at least $25,000, regardless of the number of licensed locations. A licensee shall maintain a surety bond of $25,000. A license shall be conspicuously posted in the place of business authorized by the licensee.

Required disclosures: Every licensee shall conspicuously post a complete, detailed, and unambiguous schedule of fees that is clear, legible and in letters not less than one-half inch in height. Before entering into a deferred deposit transaction, licensees shall distribute to customers a notice of the customer’s rights under the deferred deposit transaction law. The following notices shall be clearly and conspicuously posted in the unobstructed view of the public by all licensees in each location of a business providing deferred deposit transactions in letters not less than one-half inch in height: The licensee cannot use the criminal process against a consumer to collect any deferred deposit transaction. The schedule of all charges and fees to be charged on those deferred deposit transactions with an example of all charges and fees that would be charged on at least a $100 and a $200 deferred deposit transaction, payable in 14 days and 30 days, respectively, giving the corresponding annual percentage rate. An agreement to enter into a deferred deposit transaction shall be in writing, signed by the customer, and shall include disclosures required by the Federal Truth In Lending Act and its regulations (written and available in the same language principally used in any oral discussions or negotiations leading to execution of the deferred deposit agreement and in at least 10-point type); the name, address, and telephone number of the licensee; the customer's name and address; the date to which deposit of check has been deferred (due date); the payment plan, or extension, if applicable; an itemization of the amount financed as required under the Federal Truth In Lending Act and its regulations; disclosure of any returned check charges; that the customer cannot be prosecuted or threatened with prosecution to collect; that the licensee cannot accept collateral in connection with the transaction; that the licensee cannot make a deferred deposit transaction contingent on the purchase of another product or service; signature space for the customer and signature of the licensee or authorized representative of the licensee and date of the transaction.

Prohibited acts: No licensee shall: advertise, print, display, publish, distribute, or broadcast, in any manner, any statement or representation with regard to the business subject to the provisions of this division that is false, misleading, or deceptive, or that omits material information that is necessary to make the statements not false, misleading, or deceptive; place an advertisement disseminated primarily in this state for a deferred deposit transaction unless the licensee discloses in the printed text of the advertisement, or the oral text in the case of a radio or television advertisement, that the licensee is licensed by the department pursuant to this division; accept or use the same check for a subsequent transaction, or permit a customer to pay off all or a portion of one deferred deposit transaction with the proceeds of another; accept any collateral for a deferred deposit transaction; make any deferred deposit transaction contingent on the purchase of insurance or any other goods or services; enter into a deferred deposit transaction with a person lacking the capacity to contract; alter the date or any other information on a check; engage in any unfair, unlawful, or deceptive conduct, or make any statement that is likely to mislead in connection with the business of deferred deposit transactions; accept more than one check for a single deferred deposit transaction; take any check, instrument, or form in which blanks are left to be filled in after execution; offer, arrange, act as an agent for, or assist a deferred deposit originator in any way in the making of a deferred deposit transaction unless the deferred deposit originator complies with all applicable federal and state laws and regulations, including the provisions of this division. A customer who enters into a deferred deposit transaction and offers a personal check to a licensee pursuant to an agreement shall not be subject to any criminal penalty for the failure to comply with the terms of that agreement. A licensee shall not enter into an agreement for a deferred deposit transaction with a customer during the period of time that an earlier written agreement for a deferred deposit transaction for the same customer is in effect.

Loan Terms: A licensee may defer the deposit of a customer's personal check for up to 31 days, pursuant to the provisions of this section. The face amount of the check shall not exceed $300. Each deferred deposit transaction Permitted charges: A fee for a deferred deposit transaction shall not exceed 15 percent of the face amount of the check. A licensee who enters into a deferred deposit transaction agreement shall not be entitled to recover damages for that transaction. A fee not to exceed $15 may be charged for the return of a dishonored check by a depositary institution in a deferred deposit transaction. A single fee is the exclusive charge for a dishonored check. No fee may be added for late payment.

Enforcement and Penalties: The commission may revoke or suspend a license, order a person or licensee to desist and to refrain from engaging in the business or further violating this division; and bring an action in the name of the people of the State of California against that person to enjoin that person from continuing that violation or doing any act in furtherance of the violation. If any amount other than, or in excess of, the charges or fees permitted by this division is willfully charged, contracted for, or received, a deferred deposit transaction contract shall be void, and no person shall have any right to collect or receive the principal amount provided in the deferred deposit transaction, any charges, or fees in connection with the transaction. Civil penalty not to exceed $2,500 for each violation. Any person who willfully violates these rules, shall, upon conviction, be punished by a fine of not more than ten thousand dollars $10,000, or by imprisonment in a county jail for not more than one year, or by both that fine and imprisonment. However, no person may be imprisoned for the violation of any rule or order unless he or she had knowledge of the rule or order.

Colo. Rev. Stat. § 5-3.1-101 et seq.

Applicability: To deferred deposit loans whereby the lender for a fee accepts a dated instrument from the consumer, agrees to hold it for a period of time prior to negotiation or deposit, and pays to the consumer the amount of the instrument less finance charges as permitted. One who acts as an agent for a third party is covered even if the third party is exempt. Otherwise UCCC applies. Colo. Rev. Stat. § 5-2-201 (the greater of: the total of 36% per year on $1,000 or less + 21% per year on $1,000-$3,000 + 15% per year amounts in excess of $3,000; or 21% per year on the unpaid balances of the amount financed).

Exemptions: Lenders not covered as supervised lenders under § 5-1-301(17). Banks and other financial institutions that may be exempt by federal law from the interest rate limitations are, nevertheless, subject to all other provisions.

Licensing requirements: Lenders must be licensed.

Permitted charges: Not more than 20% of the first $300 plus 7.5% of the excess. Loans can be renewed once and the renewal fee can be no more than 20% of the first $300 plus 7.5% of the excess. Lender must refund a prorated portion of the finance charge if the renewal occurs before the maturity date of the loan. Lender may contract to receive a $25 fee if, upon deposit, the consumer’s check is returned for insufficient funds, plus court costs and reasonable attorney fees in the even of default.

Required disclosures: Licensee must reduce agreement to writing and contain the name of the consumer, the transaction date, the amount of the check, the annual percentage rate, the total amount of the finance charges charged, expressed both as a dollar amount and as an annual percentage rate and other disclosures required for supervised lenders. In addition, the following notice must be prominently placed in the loan agreement in at least 10-point type: “A deferred deposit loan is not intended to meet long-term financial needs. A deferred deposit loan should be used only to meet short-term cash needs. Renewing the deferred deposit loan rather than paying the debt in full will require additional finance charge. State law prohibits deferred deposit loans exceeding $500 total debt from a deferred deposit lender. Exceeding this amount may create financial hardships for you and your family. You have the right to rescind this transaction by 5 P.M. the next business day following this transaction.”

Lender must also post a notice of the charges imposed for such loans at its place of business. Prior to selling or assigning the check or loan, the lender must place a notice on the check in at least ten-point type which says: “This is a deferred deposit loan instrument.”

Prohibited acts: A lender may not make a deferred deposit loan without a license. A licensee may not engage in unfair or deceptive acts, practices, or advertising in connection with deferred deposit loans. Licensee may not change its location without giving the administrator advance written notice. Licensee may not make loans at a location for which it does not have a license nor engage in business under any name other than that on the license. A loan shall not be renewed more than once. If not paid after one renewal, the lender may deposit the check. Cannot charge a fee for cashing the lender’s check. Lender cannot present a check for payment unless it is endorsed with the actual business name of the lender. Lender cannot attempt to collect on the loan or check by using the criminal process. Provisions of Colorado law regulating other lenders are applicable unless inconsistent with this act.

Loan terms: Loan cannot be greater than $500 exclusive of the finance charge and loan term cannot exceed 40 days.

Del. Code. Ann. Tit. 5 § 2227 et seq.

Applicability: This statute applies to persons making more than 5 loans within any 12-month period, including those making short-term consumer loans. Check cashers are prohibited from advancing any monies on a postdated check.

Exemptions: Banking organizations, federal credit unions or insurance companies; and any other person, if and to the extent that such person is lending money in accordance with and as authorized by any other applicable law of this State or the United States.

Licensing requirements: Applicants shall pay to the Commissioner as an investigation fee the sum of $250. The applicant shall pay an annual license fee of $250 which shall be payable annually thereafter. Each license issued under this chapter shall state the address at which the business is to be conducted and shall state fully the name of the licensee. A copy of such license shall be prominently posted in each place of business of the licensee. No licensee shall maintain an office at any other location than that designated in the license. Every licensee shall file a surety bond of not less than $50,000 nor more than $200,000. In lieu of requiring the filing of a surety bond, the Commissioner may, at the Commissioner's discretion, accept from a licensee an irrevocable letter of credit of not less than $50,000 nor more than $200,000.

Loan terms: A short term consumer loan is a loan of $500 or less made to an individual borrower that charges interest and/or fees for which the stated repayment period is less than 60 days and is not secured by title to a motor vehicle. A licensee may, following not more than the maximum allowable number of rollovers, enter into a workout agreement with the borrower or take such other actions as are lawful to collect any outstanding and unpaid indebtedness. No licensee shall make a short-term consumer loan unless such loan is subject to a right of rescission on the part of the individual borrower.

Prohibited acts: No licensee shall: make more than 4 rollovers of an existing short-term consumer loan; pursue or threaten to pursue criminal action against an individual borrower in connection with the nonpayment of any amount due, including the unpaid return of any check or automated clearing house transaction; cause to be placed before the public in this State any false or misleading advertising matter pertaining to loans or the availability thereof. No order, warrant or claim of any kind, from any employee upon his or her employer, for any salary or part thereof due or to become due to such employee from such employer, shall be taken, accepted or agreed to be taken or accepted, as security for money loaned or to be loaned. No instrument evidencing a loan under this chapter shall contain any acceleration clause under which any part, or all of the unpaid balance, of the obligation not yet matured, may be declared due and payable because the holder deems himself or herself to be insecure or any power of attorney to confess judgment or any other power of attorney.

Required disclosures: All short-term consumer loan must be evidenced by a written loan application (English and Spanish) a must contains a conspicuously displayed written disclosure that: The loan is designed as a short-term cash flow solution and not designed as a solution for longer term financial problems; Additional fees may accrue if the loan is rolled over; and credit counseling services are available to consumers who are experiencing financial problems.

Permitted charges: In the event of a borrower’s default, the licensee may charge and collect a reasonable attorney's fee. The licensee may also, if the agreement governing, or the bond, note or other evidence of, the loan so provides, recover from the borrower all court, alternative dispute resolution or other collection costs (including, without limitation, fees and charges of collection agencies) actually incurred by the licensee.

Penalties: Lenders operating without a license shall be fined not less than $50 nor more than $200 for each offense, or imprisoned not more than 3 months, or both. Licensees who violate the prohibitions against salary assignment and acceleration clauses shall be fined not less than $100 nor more than $500, or imprisoned not more than 6 months, or both. For every violation of this chapter by any association, firm, partnership, trustee system or combination of persons not incorporated, or by any corporation, any member of the association, firm, partnership, trustee system or combination of persons not incorporated, and the president, secretary or treasurer, or any person acting as agent of the association, firm, partnership, trustee system or combination of persons not incorporated, or corporation, may be proceeded against as a principal.

D.C. Code Ann. § 26-301 et seq.

Applicability: To check cashers. Otherwise, consumer loan act applies. D.C. Code Ann. § 28-3301 et seq. (24% per year interest rate cap).

Exemptions: Banks, building and loan associations, credit unions, trust companies, savings and loan associations; the United States Postal Service; any person who cashes checks for free.

License requirements: Superintendent of the Office of Banking & Financial Institutions. Must apply in writing which includes certain information, pay a fee of $300, obtain a $5,000 bond, demonstrate the availability of capital of at least $25,000 at each location, demonstrate that business will be conducted honestly and fairly. Must renew annually.

Permitted charges: 10% of the face amount of the check; and, if the licensee enters into an agreement with the customer, may charge an additional fee (to cover verification, handling, and documentation processing) of no more than $5 on a personal check with a face amount of up to $250; $10--$250.01 to $500; $15--$500.01 to $750; $20--$750.01 to $1,000.

Prohibited Acts: Cannot accept post-dated checks; the personal check must bear an issue date of not later than the date the check is cashed and the deferred deposit agreement is originated; cannot hold a check for longer than 31 days following the issue date of the check.

Required acts: Must display license conspicuously; must give a receipt for the transaction.

Required disclosures: Must conspicuously post in both English and Spanish a schedule of fees and charges permitted under the act which must be approved by the Superintendent of the Office of Banking and Financial Institutions.

Loan terms: The aggregate face amount of the checks being held for deferred deposit cannot exceed $1000. Minimum amount cannot be less than $50.

Civil/Criminal Penalties: None.

Enforcement: Superintendent may seek a cease and desist order and seek to suspend or revoke a license.

Private right of action: None specified.

Fl. Stat. Ann. § 560.401 et seq.; Fla. Admin. Code Ann. r.3C-560.901 et seq.

Applicability: To persons who are registered to provide currency or payment instruments in exchange for a person's check and who agree to hold that person's check for a period of time prior to presentment, deposit, or redemption. Otherwise consumer finance act applies. Fla. Stat. Ann. § 516.031 (30% per year on the first $2,000; 24% per year on $2,000 - $3,000; 18% per on $3,000 - $25,000).

Exemptions: Financial institutions (a state or federal association, bank, savings bank, trust company, international bank agency, international branch, representative office or international administrative office, or credit union) are exempt.

Registrations requirements: Deferred presentment providers (“providers”) must register and must file a sworn declaration of intent to engage in deferred presentment transactions along with a filing fee of $1,000. Registrations must be renewed by submitting a nonrefundable deferred presentment provider renewal fee of $1,000. Any person engaging in a registered activity shall have a net worth of at least $100,000 and an additional net worth of $50,000 per additional location up to a maximum of $500,000. Applicant must also provide a corporate surety bond in such amount as determined by commission rule, but not to exceed $250,000. The commission and office may require an additional amount up to $500,000 for extraordinary circumstances.

Required disclosures: Every deferred presentment transaction shall be documented in a written agreement signed by both the provider and the drawer that contains: The name or trade name, address, and telephone number of the provider and the name and title of the person who signs the agreement on behalf of the provider; the date the deferred presentment transaction was made; the amount of the drawer's check; the length of deferral period; the last day of the deferment period; the address and telephone number of the office and the Division of Consumer Services of the Department of Financial Services; a clear description of the drawer's payment obligations under the deferred presentment transaction; the transaction number assigned by the office's database. Every provider shall furnish to the drawer a copy of the deferred presentment transaction agreement. The provider must comply with the disclosure requirements of the federal Truth-in-Lending Act. A copy of the disclosure must be provided to the drawer at the time the deferred presentment transaction is initiated and the following notice must be placed in a prominent location on each agreement in at least 14-point type in substantially the following form and must obtain the signature of the drawer where indicated. NOTICE: 1. STATE LAW PROHIBITS YOU FROM HAVING MORE THAN ONE DEFERRED PRESENTMENT AGREEMENT AT ANY ONE TIME. STATE LAW ALSO PROHIBITS YOU FROM ENTERING INTO A DEFERRED PRESENTMENT AGREEMENT WITHIN 24 HOURS OF TERMINATING ANY PREVIOUS DEFERRED PRESENTMENT AGREEMENT. FAILURE TO OBEY THIS LAW COULD CREATE SEVERE FINANCIAL HARDSHIP FOR YOU AND YOUR FAMILY. YOU MUST SIGN THE FOLLOWING STATEMENT: I DO NOT HAVE AN OUTSTANDING DEFERRED PRESENTMENT AGREEMENT WITH ANY DEFERRED PRESENTMENT PROVIDER AT THIS TIME. I HAVE NOT TERMINATED A DEFERRED PRESENTMENT AGREEMENT WITHIN THE PAST 24 HOURS. (Signature of Drawer) 2. YOU CANNOT BE PROSECUTED IN CRIMINAL COURT FOR A CHECK WRITTEN UNDER THIS AGREEMENT, BUT ALL LEGALLY AVAILABLE CIVIL MEANS TO ENFORCE THE DEBT MAY BE PURSUED AGAINST YOU.

3. STATE LAW PROHIBITS A DEFERRED PRESENTMENT PROVIDER (THIS BUSINESS) FROM ALLOWING YOU TO "ROLL OVER" YOUR DEFERRED PRESENTMENT TRANSACTION. THIS MEANS THAT YOU CANNOT BE ASKED OR REQUIRED TO PAY AN ADDITIONAL FEE IN ORDER TO FURTHER DELAY THE DEPOSIT OR PRESENTMENT OF YOUR CHECK FOR PAYMENT. IF YOU INFORM THE PROVIDER IN PERSON THAT YOU CANNOT COVER THE CHECK OR PAY IN FULL THE AMOUNT OWING AT THE END OF THE TERM OF THIS AGREEMENT, YOU WILL RECEIVE A GRACE PERIOD EXTENDING THE TERM OF THE AGREEMENT FOR AN ADDITIONAL 60 DAYS AFTER THE ORIGINAL TERMINATION DATE, WITHOUT ANY ADDITIONAL CHARGE. THE DEFERRED PRESENTMENT PROVIDER SHALL REQUIRE THAT YOU, AS A CONDITION OF OBTAINING THE GRACE PERIOD, COMPLETE CONSUMER CREDIT COUNSELING PROVIDED BY AN AGENCY INCLUDED ON THE LIST THAT WILL BE PROVIDED TO YOU BY THIS PROVIDER. YOU MAY ALSO AGREE TO COMPLY WITH AND ADHERE TO A REPAYMENT PLAN APPROVED BY THAT AGENCY. IF YOU DO NOT COMPLY WITH AND ADHERE TO A REPAYMENT PLAN APPROVED BY THAT AGENCY, WE MAY DEPOSIT OR PRESENT YOUR CHECK FOR PAYMENT AND PURSUE ALL LEGALLY AVAILABLE CIVIL MEANS TO ENFORCE THE DEBT AT THE END OF THE 60-DAY GRACE PERIOD.

Loan terms: The face amount of a check taken for deferred presentment may not exceed $500 exclusive of the fees allowed by this part. No deferred presentment agreement shall be for a term in excess of 31 days or less than 7 days. The deferred presentment agreement and drawer's check shall bear the same date, and the number of days of the deferment period shall be calculated from this date. The provider shall maintain a common database and shall verify whether that provider or an affiliate has an outstanding transaction with a particular person or has terminated a transaction with that person within the previous 24 hours. The provider shall access the office's database established and shall verify whether any other deferred presentment provider has an outstanding transaction with a particular person or has terminated a transaction with that person within the previous 24 hours. If the drawer informs the provider in person that the drawer cannot redeem or pay in full in cash the amount due and owing the provider, the provider shall provide a grace period extending the term of the agreement for an additional 60 days after the original termination date, without any additional charge. The provider shall require that as a condition of providing this grace period, that within the first 7 days of the grace period the drawer make an appointment with a consumer credit counseling agency within 7 days after the end of the deferment period and complete the counseling by the end of the grace period. The drawer may agree to, comply with, and adhere to a repayment plan approved by the counseling agency. If the drawer agrees to comply with and adhere to a repayment plan approved by the counseling agency, the provider is also required to comply with and adhere to that repayment plan. The provider may not deposit or present the drawer's check for payment before the end of the 60-day grace period unless the drawer fails to comply with such conditions or the drawer fails to notify the provider of such compliance. The statute contains specific disclosure requirements regarding the repayment options. If a drawer completes an approved payment plan, the provider shall pay one-half of the drawer's fee for the agreement to the consumer credit counseling agency.

Permitted charges: No provider or its affiliate shall charge fees in excess of 10 percent of the currency or payment instrument provided. However, a verification fee may be charged. The 10-percent fee may not be applied to the verification fee. If a check is returned to a provider due to insufficient funds, a closed account, or a stop-payment order, the provider may pursue all legally available civil remedies to collect the check, including, but not limited to, the imposition of all charges imposed on the provider by any financial institution. In its collection practices, a provider shall comply with the prohibitions against harassment or abuse, false or misleading representations, and unfair practices which are contained A violation of this act constitutes a violation of the Deceptive and Unfair Trade Practices Act.

Prohibited acts: The fees authorized by this section may not be collected before the drawer's check is presented or redeemed. No provider shall require a person to provide any additional security for the transaction or any extension or require a person to provide any additional guaranty from another person. A provider shall not include any of the following provisions in any written agreement: a hold harmless clause; a confession of judgment clause; any assignment of or order for payment of wages or other compensation for services; a provision in which the drawer agrees not to assert any claim or defense arising out of the agreement; or a waiver of any provision of this part. No provider or person may alter or delete the date on any written agreement or check it holds. No additional fee may be charged by a provider or its affiliate for issuing or cashing the provider's payment instrument. No provider may rollover a deferred presentment agreement or redeem, extend, or otherwise consolidate a deferred presentment agreement with the proceeds of another transaction made by the same or an affiliated provider. A provider may not enter into a transaction with a person who has an outstanding transaction with that provider or with any other provider, or with a person whose previous transaction with that provider or with any other provider has been terminated for less than 24 hours. The provider may not deposit or present the drawer's check if the drawer informs the provider in person that the drawer cannot redeem or pay in full in cash the amount due and owing the provider. No additional fees or penalties may be imposed on the drawer by virtue of any misrepresentation made by the drawer as to the sufficiency of funds in the drawer's account. In no event shall any additional fees be added to the amounts due and owing to the provider.

Check Casher Act - Hawaii Rev. Stat. Ann. § 480F-1 et seq.

Otherwise, the small loan act applies. Haw. Rev. Stat. § 412:9-302 (14% precomputed interest per year for the first eighteen months; or 24% per year).

Applicability: To any transaction in which a check casher refrains from depositing a personal check written by a customer until a date after the transaction date pursuant to a written agreement.

Exemptions: Does not apply to any person who is principally engaged in the bona fide sale of goods or services and who from time to time cashes items for a fee for not more than $2 or 2% of the amount of the check, whichever is greater; to any bank, or financial institution organized under the laws of the United States or any state or territory.

Required disclosures: Must post the fees charged in a conspicuous place in the business and a notice that complaints may be filed with the department of commerce and consumer affairs. Must also provide the consumer with written notice of the fees that is separate from and in addition to the posted notice. Must obtain written acknowledgment from the customer that written notice of the fees was provided and provide each consumer with a receipt documenting any and all fees charged. Deferred deposit transaction must be in writing and it shall contain the statement of the total amount of any fees charged, expressed both in U.S. dollar amount and as an annual percentage rate.

Permitted charges: Not to exceed 15% of the face amount of the check. Dishonored check fee cannot be more than $20.

Prohibited acts: No collateral products, e.g., insurance, can be sold. Deferred deposit cannot exceed 31 days. No collateral may be accepted to secure the loan. Face amount of the loan cannot exceed $300. A check casher cannot enter into another agreement with a consumer during a period of time that an earlier agreement is in effect.

Cannot repay, refinance, or consolidate one transaction by or with the proceeds of another. Cannot take any action to collect on a check passed with insufficient funds except to charge and recover the dishonored check fee. Cannot prosecute customer for criminal violations unless the check is dishonored because of stopped payment on the check.

Private right of action: Any injured consumer may seek remedies allowed by Haw. Rev. Stat. § 480-13(b). Any violation of this act constitutes an unfair and deceptive trade practice under state law. Any person injured by a willful violation of the act may bring an action for the recovery of damages and seek to enjoin the violations. Plaintiff shall be awarded damages of not less than $1,000 or three times the damages, whichever is greater, reasonable attorney’s fees and costs.

Criminal/civil penalties: A willful violation is punishable by a fine of up to $500 and up to 30 days imprisonment. Penalties are cumulative with any other which are otherwise available for the same conduct.

Idaho Code Ann. § 28-46-401

Applicability: This statute governs lenders making payday loans.

Licensing requirements: Payday lenders must be licensed. Separate licenses are required for each location.

Applicants must have liquid assets of at least $30,000. Applicants seeking to engage in the business of payday

loans at more than one (1) location in the state shall have liquid assets of at least an additional $5,000 for each

additional location in the state up to a maximum of seventy-five thousand dollars $75,000 for all locations in the

state. Otherwise, Idaho credit code applies. Idaho Code § 28-42-201 (allows interest at any contract rate).

Loan terms: A licensee may renew a payday loan no more than three (3) consecutive times, after which the payday loan shall be repaid in full by the borrower. A borrower may enter into a new loan transaction with the licensee at any time after a prior loan to the borrower is completed. A loan secured by a borrower's check is completed when the check is presented or deposited by the licensee or redeemed by the borrower.

Prohibited acts: No licensee or person related to a licensee by common control may have outstanding at any time to a single borrower a loan or loans with an aggregate principal balance exceeding $1,000, plus allowable fees. No payday loan shall be repaid by the proceeds of another payday loan made by the same licensee or a person related to the licensee by common control. A licensee shall not threaten a borrower with criminal action as a result of any payment deficit. No licensee shall engage in unfair or deceptive acts, practices or advertising in the conduct of a payday loan business. Other than a check, a licensee shall not accept any property, title to property, or other evidence of ownership as collateral for a payday loan.

Permitted charges: If the borrower's check is returned unpaid to the licensee from a payor financial institution, the licensee has the right to collect charges authorized by this code provided such charges are disclosed in the loan agreement. A licensee may not charge treble damages. If the borrower's obligation is assigned to any third party for collection, the provisions of this section shall apply to such third party collector.

Enforcement and Penalties: License revocation or suspension. Administrator may bring civil actions. Administrator may also seek injunctions against violations of the act and against unconscionable agreements and fraudulent or unconscionable conduct including debt collection bring civil enforcement actions. Administrator can bring action for failure to file notification or to pay fees for 3 times the amount of fees the defendant has failed to pay or $1000 (whichever is greater) plus administrator’s costs and attorney’s fees.

Private right of action: Debtors can recover actual damages and civil penalties of no more than $5,000 for repeated and intentional violations of this act. Debtor’s remedies are not affected by actions brought by the administrator.

815 Ill. Comp. Stat. Ann. § 122/1-.1 - Payday Loan Reform Act (effective 12/6/05)

Applicability: Any lender that offers or makes a payday loan to a consumer in Illinois and to any person or entity

that seeks to evade its applicability by any device, subterfuge, or pretense whatsoever. A lender that is an agent

for a bank, savings bank, savings and loan association, credit union, or insurance company for the purpose of

brokering, selling, or otherwise offering payday loans made by the bank, savings bank, savings and loan

association, credit union, or insurance company shall be subject to all of the provisions of this Act, except those

provisions related to finance charge. Otherwise Consumer Installment Loan Act applies. 205 Ill. Comp. Stat §

670/15 (allows interest at any contract rate).

Exemptions: Retail sellers who cash checks incidental to a retail sale and who charge no more than the fees as provided by the Check Cashing Act per check for the service. Banks, savings banks, savings and loan associations, credit unions, and insurance companies organized, chartered, or holding a certificate of authority to do business under the laws of this State or any other state or under the laws of the United States.

Licensing requirements: Written application; $1,000 annual fee; $50,000 bond for each location (max:

$500,000) A license shall be issued for no longer than one year, and no renewal of a license may be provided if a

licensee has substantially violated this Act and has not cured the violation to the satisfaction of the Department. A

licensee shall appoint, in writing, the Secretary as attorney-in-fact upon whom all lawful process against the

licensee may be served with the same legal force and validity as if served on

Required disclosures: Before a payday loan is made, a lender shall deliver to the consumer a pamphlet prepared by the Secretary that: explains, in simple English and Spanish, all of the consumer's rights and responsibilities in a payday loan transaction includes a toll-free number to the Secretary's office to handle concerns or provide information about whether a lender is licensed, whether complaints have been filed with the Secretary, and the resolution of those complaints; and provides information regarding the availability of debt management services. Lenders shall provide consumers with a written agreement that includes the following information in English and in the language in which the loan was negotiated: the name and address of the lender making the payday loan, and the name and title of the individual employee who signs the agreement on behalf of the lender; disclosures required by the federal Truth in Lending Act; a clear description of the consumer's payment obligations under the loan; a notice stating: "You cannot be prosecuted in criminal court to collect this loan." This information must be conspicuously disclosed in the loan document and shall be located immediately preceding the signature of the consumer; and the following statement, in at least 14-point bold type face: "WARNING: This loan is not intended to meet long-term financial needs. This loan should be used only to meet short-term cash needs. The cost of your loan may be higher than loans offered by other lending institutions. This loan is regulated by the Department of Financial and Professional Regulation." The following notices in English and Spanish must be conspicuously posted by a lender in each location of a business providing payday loans: A notice that informs consumers that the lender cannot use the criminal process against a consumer to collect any payday loan; the schedule of all finance charges to be charged on loans with an example of the amounts that would be charged on a $100 loan payable in 13 days and a $400 loan payable in 30 days, giving the corresponding annual percentage rate; In one-inch bold type, a notice to the public in the lending area of each business location containing the following statement: "WARNING: This loan is not intended to meet long-term financial needs. This loan should be used only to meet short-term cash needs. The cost of your loan may be higher than loans offered by other lending institutions. This loan is regulated by the Department of Financial and Professional Regulation.” In one-inch bold type, a notice to the public in the lending area of each business location containing the following statement: "INTEREST-FREE REPAYMENT PLAN: If you still owe on one or more payday loans after 35 days, you are entitled to enter into a repayment plan. The repayment plan will give you at least 55 days to repay your loan in installments with no additional finance charges, interest, fees, or other charges of any kind."

Loan terms: Loans cannot be less than 13 days nor more than 45 days. If a consumer has or has had loans outstanding for a period in excess of 45 consecutive days, no payday lender may offer or make a loan to the consumer for at least 7 calendar days after the date on which the outstanding balance of all payday loans made during the 45 consecutive day period is paid in full. Total principal amount of all of the consumer's outstanding payday loans cannot exceed the lesser of $1,000 or 25% of the consumer's gross monthly income. No payday loan may be made to a consumer who has an outstanding balance on 2 payday loans. Before entering into a loan agreement with a consumer, a lender must use a commercially reasonable method of verification to verify that the proposed loan agreement is permissible under this Act. If the consumer has or has had one or more payday loans outstanding for 35 consecutive days, any payday loan outstanding on the 35th consecutive day shall be payable under the terms of a repayment plan at the consumer’s request. The consumer has until 28 days after the default date of the loan to request a repayment plan. Within 48 hours after the request, the lender must prepare the repayment plan agreement and both parties must execute the agreement. Execution of the repayment plan agreement shall be made in the same manner in which the loan was made and shall be evidenced in writing. Once the loan becomes subject to a repayment plan, the loan shall not be construed to be in default until the default date provided under the terms of the repayment plan.

Permitted charges: No lender may charge more than $15.50 per $100 loaned on any payday loan over the term of the loan. This charge is considered fully earned as of the date on which the loan is made. If there are insufficient funds to pay a check, Automatic Clearing House debit on the day of presentment and only after the lender has incurred an expense, a lender may charge a fee not to exceed $25. Only one such fee may be collected by the lender with respect to a particular check, ACH debit, or item even if it has been deposited and returned more than once. A lender shall present the check, ACH debit for payment not more than twice. A fee charged under this subsection (a) is a lender's exclusive charge for late payment. Insufficient fund fee.

Prohibited acts: Loan rollovers; threatening to use or using the criminal process in this or any other state to collect on the loan; using any device or agreement that would have the effect of charging or collecting more fees or charges than allowed by this Act, including, but not limited to, entering into a different type of transaction with the consumer; engaging in unfair, deceptive, or fraudulent practices in the making or collecting of a payday loan; using or attempting to use the check provided by the consumer in a payday loan as collateral for a transaction not related to a payday loan; knowingly accepting payment in whole or in part of a payday loan through the proceeds of another payday loan provided by any licensee; knowingly accepting any security for a payday loan; charging any fees or charges other than those specifically authorized by this Act; threatening to take any action against a consumer that is prohibited by this Act or making any misleading or deceptive statements regarding the payday loan or any consequences thereof; Making a misrepresentation of a material fact by an applicant for licensure in obtaining or attempting to obtain a license. Including any of the following provisions in loan documents: a confession of judgment clause; a waiver of the right to a jury trial, if applicable, in any action brought by or against a consumer, unless the waiver is included in an allowed arbitration clause; a mandatory arbitration clause that is oppressive, unfair, unconscionable, or substantially in derogation of the rights of consumers; or a provision in which the consumer agrees not to assert any claim or defense arising out of the contract. Selling any insurance of any kind whether or not sold in connection with the; collecting a delinquency or collection charge on any installment regardless of the period in which it remains in default; collecting treble damages on an amount owing from a payday loan; Refusing, or intentionally delaying or inhibiting, the consumer's right to enter into a repayment plan pursuant to this Act; charging for, or attempting to collect, attorney's fees, court costs, or arbitration costs incurred in connection with the collection of a payday loan; making a loan in violation of this Act; garnishing the wages or salaries of a consumer who is a member of the military; failing to suspend or defer collection activity against a consumer who is a member of the military and who has been deployed to a combat or combat-support posting; contacting the military chain of command of a consumer who is a member of the military in an effort to collect on a payday loan; advertising for loans transacted under this Act may not be false, misleading, or deceptive. Payday loan advertising, if it states a rate or amount of charge for a loan, must state the rate as an annual percentage rate. No licensee shall conduct the business of making loans under this Act within any office, suite, room, or place of business in which any other business is solicited or engaged in unless the other business is licensed by the Department or, in the opinion of the Secretary, the other business would not be contrary to the best interests of consumers and is authorized by the Secretary in writing.

Penalties: Material violations of this Act constitute a violation of the Consumer Fraud and Deceptive Business Practices Act and are unenforceable against the consumer. The Secretary may hold hearings, make findings of fact, conclusions of law, issue cease and desist orders, have the power to issue fines of up to $10,000 per violation, refer the matter to the appropriate law enforcement agency for prosecution under this Act, and suspend or revoke a license granted under this Act.

INDIANA

Michigan’s deferred presentment service transactions act – Mich. Comp. Laws § 487.2121 et seq.,