Kansas payday loan laws

Legal Status: Legal

Kan. Stat. Ann. § 16a-2-404, 405

Loan Terms:
Maximum Loan Amount: $500
Loan Term: 7-30 days
Maximum Finance Rate and Fees: 15% of loan
Finance Charge for 14-day $100 loan: $15
APR for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two. May not make more than three loans to a borrower within 30 day period.
Rollovers Permitted: No
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: One NSF fee
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Office of the State Bank Commissioner
Address: 700 SW Jackson, Suite 300 Topeka KS 66603
Phone: (785) 296-2266 
Fax: (785) 296-6037

Sourced from paydayloaninfo.org

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