Payday loan laws in Montana
Status: Legal (Mont. Code Ann. 31-1-701)
For Lenders
Lending specifications:
- Maximum loan amount: $300
- Loan tenure: 31 days
- Fees and finance charges: 36% APR
- Finance charge on a 14-day $100 loan: $1.39
Collection restrictions:
- Collection fees: One $30 NSF fee
For Borrowers
Complaint cell:
- Regulator: Division of Banking & Financial Institutions (DOA)
- Address: 301 South Park, Ste 316, PO Box 200546, Helena, MT 59620-0546
- Phone: 406-841-2931
- Regulatory contact: Chris Olson, Deputy Commissioner
- Website: http://www.banking.mt.gov/default.mcpx
- File complaint: https://banking.mt.gov/Complaints
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Please consult a qualified attorney for advice on your specific situation.
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