Payday loan laws in Nebraska
Status: Legal (Neb. Stat. Ann. §§ 45-901)
For Lenders
Lending specifications:
- Maximum loan amount: $500
- Loan tenure: Not more than 34 days
- Fees and finance charges: $15 on every $100 borrowed
- Finance charge on a 14-day $100 loan: $17.65
- APR on 14-day $100 loan: 459%
Collection restrictions:
- Collection fees: $15 NSF fee
For Borrowers
Debt limits:
- Maximum no. of outstanding loans at a time: Two
- Rollovers allowed: None (cannot charge fee for extension)
Complaint cell:
- Regulator: Nebraska Department of Banking & Finance (NDB&F)
- Address: Financial Institutions Division, Commerce Court, Ste. 400, 1230 'O' Street, Lincoln, NE 68508-1402
- Phone: (402)471-2171
- Consumer hotline: (877) 471-3445
- Regulatory contact: Karen Reynolds, Review Examiner
- Website: http://www.ndbf.ne.gov/index.shtml
- File complaint: http://www.ndbf.org/forms/cptf.pdf
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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