Louisiana Payday Loan Laws and Regulations in (LA)

(last updated 11/13/2019)
Payday loans and cash advances are legal in Louisiana. The Louisiana Office of Financial Institutions has been regulating Payday Loans and Cash Advances since January 1st, 2000. As of 01/13/2015 there were 268 licensed lenders and 1507 licensed locations in Louisiana.
The maximum payday loan allowed in Louisiana is $350. 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. The maximum permissible fees allowed in Louisiana is the law allows a lender to charge $20 for every $100 borrowed, plus a $10 fee for documentation. However, the total amount of the fees cannot exceed $55 when the amount borrowed is $220 - $350. The cooling off or waiting period for obtaining another loan is not specified days. The number of rollovers that are permitted is 0, However, if you repay 25% and fees of the amount you borrowed, you can refinance the remainder. 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 Louisiana, 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 Louisiana Office of Financial Institutions.
The following classes of lending organizations may be exempt from some, all, or none of the laws set by the state of Louisiana. 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.

Louisiana Payday Lending Regulator (LA)

Regulating Authority
Louisiana Office of Financial Institutions
8660 United Plaza Boulevard
Baton Rouge, LA 70809
(225) 925-7535

Agency for Handling Complaints
Office of Financial Institutions
All complaints must be submitted in writing.
Post Office Box 94095
Baton Rouge , LA 70804-9095
(225) 925-4660, or (888) 525-9414


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Baton Rouge
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