Payday loan laws in North Dakota

  • Status: Legal (N.D. Cent. Code 13-08-01 et seq.)
For Lenders

Lending specifications:

  • Maximum loan amount: $500
  • Loan tenure: Maximum 60 days
  • Fees and finance charges: 20% + database fees
  • Finance charge on a 14-day $100 loan: $20
  • APR on 14-day $100 loan: 520%

Collection restrictions:

  • Collection fees: $20 NSF fee (only if disclosed)
  • Criminal procedures: Prohibited
For Borrowers

Debt limits:

  • Maximum no. of outstanding loans at a time: Not Specified
  • Rollovers allowed: One
  • Cooling-off phase: 72 hours

Complaint cell:

  • Regulator: Department of Financial Institutions (North Dakota)
  • Address: 2000 Schafer Street, Suite G Bismarck; ND 58501-1204
  • Phone: (701) 328-9935
  • Fax: (701) 328-0290
  • Regulatory contact: Aaron Webb, Assistant Commissioner
  • Website: http://www.nd.gov/dfi/
  • File complaint: http://www.nd.gov/dfi/



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