California Payday Loan Laws and Regulations in (CA)

(last updated 11/13/2019)
Payday loans and cash advances are legal in California. The California Department of Business Oversight has been regulating Payday Loans and Cash Advances since January 1st, 1995. As of 01/13/2015 there were 284 licensed lenders and 2094 licensed locations in California.
The maximum payday loan allowed in California is $300. The maximum payday loan as a percentage of income is not specified. The number of loans that can be open at one time is 1. The maximum permissible fees allowed in California is $17.65 for a $100 14 day loan, the maximum APR for a $100 14 day loan is 459%. The cooling off or waiting period for obtaining another loan is not specified days. The number of rollovers that are permitted is 0 (cannot charge a fee for an extension). The minimum loan term is not specified. The maximum loan term is 31 Days.
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in California, no guarantees are implied or expressed about its accuracy. This is not legal advice. If you need legal advice, please consult an attorney or the California Department of Business Oversight.
The following classes of lending organizations may be exempt from some, all, or none of the regulations and laws set by the sate of California. Federally chartered banks, state chartered banks, credit unions and some entities organized under the laws of a sovereign nation (for example) a Native American Tribe or the country of Antigua.

California Payday Lending Regulator (CA)

Regulating Authority
California Department of Business Oversight
Financial Services Division
1515 K Street Suite 200
Sacramento, CA 95814
(866) 275-2677, (916) 445-7205

Agency for Handling Complaints
California Department of Business Oversight
Financial Services Division
1515 K Street Suite 200
Sacramento , CA 95814
(866) 275-2677, (916) 445-7205


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