Kentucky Payday Loan Laws and Regulations in (KY)

(last updated 11/13/2019)
Payday loans and cash advances are legal in Kentucky. The Kentucky Office of Financial Institutions has been regulating Payday Loans and Cash Advances since July 14th, 1992. As of 01/15/2015 there were 41 licensed lenders and 465 licensed locations in Kentucky.
The maximum payday loan allowed in Kentucky 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 loans for $500 total. The maximum permissible fees allowed in Kentucky is $15 per $100 on face value of check plus $1 database fee. The cooling off or waiting period for obtaining another loan is not specified days. The number of rollovers that are permitted is 0 (cannot rollover, renew, or consolidate). The minimum loan term is 14 days. 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 Kentucky, 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 Kentucky Office of Financial Institutions.
The following classes of lending organizations may be exempt from some, all, or none of the regulations and laws set by the state of Kentucky. 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.

Kentucky Payday Lending Regulator (KY)

Regulating Authority
Kentucky Office of Financial Institutions
1025 Capital Center Dr.
Suite 200
Frankfort, KY 40601

Agency for Handling Complaints
The Department of Financial Institutions
Attn: Consumer Complaints Garry Wright
1025 Capital Center Drive, Suite. 200
Frankfort , KY 40601


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