Payday loan laws in Wyoming
Status: Legal (Wy. Stat. 40-14-362 et seq.)
For Lenders
Lending specifications:
- Maximum loan amount: Not Specified
- Loan tenure: One month
- Fees and finance charges: 20% each month or $30 (whichever is higher)
- Finance charge on a 14-day $100 loan: $30
- APR on 14-day $100 loan: 780%
Collection restrictions:
- Collection fees: Not mentioned
- Criminal procedures: Prohibited
For Borrowers
Debt limits:
- Maximum no. of outstanding loans at a time: Not specified
- Rollovers allowed: None
Complaint cell:
- Regulator: Wyoming Division of Banking
- Address: Herschler Building, 3rd Floor East, 122 West 25th Street; Cheyenne, WY 82002
- Phone: (307) 777-7797
- Fax: (307) 777-3555
- Regulatory contact: Joe Mulberry, Deputy Commissioner
- Website: http://audit.state.wy.us/banking/
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File complaint: http://audit.state.wy.us/
banking/uccc/uccccomplaintprocess.htm
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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