(last updated 03/19/2020)
Kansas Payday Loan Laws and Regulations in (KS)
Payday loans and cash advances are legal in Kansas. The Office of the State Bank Commissioner of Kansas has been regulating Payday Loans and Cash Advances since 1993. As of 09/12/2014 there were 590 licensed lenders and 1579 licensed locations in Kansas.
The maximum payday loan allowed in Kansas 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 2. The maximum permissible fees allowed in Kansas is 15% of the amount of the cash advance (ex. $15 for 14 day $100 loan, 390% APR for 14 day $100 loan). The cooling off or waiting period for obtaining another loan is 0 days. The number of rollovers that are permitted is not specified. The minimum loan term is 7 days. The maximum loan term is 30 days.
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in Kansas, 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 Office of the State Bank Commissioner of Kansas.
The following classes of lending organizations may be exempt from some, all, or none of the regulations and laws set by the state of Kansas. 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.