Delaware Payday Loan Laws and Regulations in (DE)

(last updated 01/02/2018)
Payday loans and cash advances are legal in Delaware. The Delaware Office of the State Bank Commissioner has been regulating Payday Loans and Cash Advances since May 16th, 1987. As of 01/08/2015 there were 333 licensed lenders and 941 licensed locations in Delaware.
 
The maximum payday loan allowed in Delaware is $500. The maximum payday loan as a percentage of income is not specified. The number of loans that can be open at one time is not specified, but no more than $1000 total. The maximum permissible fees allowed in Delaware is not specified. The cooling off or waiting period for obtaining another loan is 0 days. The number of rollovers that are permitted is 4. The minimum loan term is not specified. The maximum loan term is 60 days.
 
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in Delaware, 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 Delaware Office of the State Bank Commissioner.
 
The following classes of lending organizations may be exempt from some, all, or none of the regulations and laws set by the state of Delaware. 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.

Delaware Payday Lending Regulator (DE)

Regulating Authority
Delaware Office of the State Bank Commissioner
555 East Loockerman Street
Dover, DE 19901
(302) 739-4235
www.banking.delaware.gov/

Agency for Handling Complaints
Delaware Office of the State Bank Commissioner
ATTN: Compliance; Carole Hoffecker
555 East Loockerman Street Suite 210
Dover , DE 19901
(302) 739-4235 or (302) 577-6722 from 8:00 am to 4:30 pm, Monday through Friday
www.banking.delaware.gov/services/complnt.shtml

 


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Delaware Payday Loans (DE) by City

Bethany Beach
Bridgeville, DE
Camden
Dagsboro
Delaware City
Delmar
Dewey Beach
Dover, DE
Elsmere
Felton
Fenwick Island
Frankford
Georgetown
Greenwood
Harrington
Laurel
Lewes
Middletown, DE
Milford
Millsboro
Millville
Milton
New Castle, DE
Newark
Newport
Ocean View
Rehoboth Beach
Seaford
Selbyville
Smyrna
Townsend
Wilmington, DE
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