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Payday loan laws in Utah

  • Status: Legal, applies to check cashers only (Utah Code Ann. 7-23-101 et seq.)
For Lenders

Lending specifications:

  • Maximum loan amount: No limit
  • Loan tenure: Max. 10 weeks
  • Fees and finance charges: No limit
  • Finance charge on a 14-day $100 loan: No limit
  • APR on 14-day $100 loan: No limit

Collection restrictions:

  • Collection fees: Not specified
  • Criminal procedures: Not specified
For Borrowers

Debt limits:

  • Maximum no. of outstanding loans at a time: No limit
  • Rollovers allowed: Not Specified (cannot extend or renew loans that pass the 10 weeks period)
  • Cooling-off period: None
  • Repayment Plan: Yes

Complaint cell:

  • Regulator: Utah Department of Financial Institutions (DFI)
  • Address: 324 South State Street, Suite 201, Salt Lake City, Utah 84111
  • Phone: (801) 538-8830
  • Toll-free: (801) 538-8894
  • Regulatory contact: Eva Rees, Supervisor of Consumer Credit and Compliance
  • Website: http://www.dfi.utah.gov/
  • File complaint: http://www.dfi.utah.gov/Complaints.htm



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