Legal Status: Legal (Lower Cost)
Maine’s UCCC applies. Me. Rev. Stat. tit. 9-A § 1-201, 2-401. 32 Me. Rev. Stat. § 6138(4((D) prohibits check cashers from advancing money on a postdated check. Supervised Lenders are exempt from that ban.
Small Loan Rate Cap
30% per year on amounts up to $2,000 or a fee of $5 for amounts financed up to $75; $15 minimum charge for amounts financed of $75.01-$249.99; or $25 for amounts financed of $250 or more.
Where to Complain, Get Information:
Regulator: Bureau of Consumer Credit Protection
Address: Department of Professional and Financial Regulation, 35 State House Station Augusta ME 04333
Fax: (207) 582-7699
Sourced from paydayloaninfo.org