Kansas Cash Advance Law and Legislation

Kansas Cash Advance Law and Legislation

Payday financing is appropriate in Kansas.

Kansas includes a $500 limitation on payday advances available in their state. The minimum loan term is 1 week; the utmost loan term is 1 month. The finance fees must not meet or exceed $15 regarding the amount advanced level. Genuine APR is 391%*. Rollovers are not allowed. Unlawful actions against borrowers are forbidden.

Kansas had been one of the states that are first begin managing payday loans in the state degree. The exact same legislature enacted in 1993 (and amended in 2004) nevertheless governs the payday financing industry when you look at the state. Presently, particular changes that are restrictive being talked about by Kansas legislative figures, nevertheless, no brand brand brand new bills have actually passed away in the last few years thus far. Continue reading “Kansas Cash Advance Law and Legislation”