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STATE Washington

West Virginia

Wisconsin

Wyoming

LOAN TYPE $250, 2-week payday loan $300, 1-month auto-title loan $500, 6-month loan $1000, 1-year loan Criminal usury cap $250, 2-week payday loan $300, 1-month auto-title loan $500, 6-month loan $1000, 1-year loan Criminal usury cap $250, 2-week payday loan $300, 1-month auto-title loan $500, 6-month loan $1000, 1-year loan Criminal usury cap $250, 2-week payday loan $300, 1-month auto-title loan $500, 6-month loan $1000, 1-year loan Criminal usury cap

APR* 390 Prohibited 39 33 None Prohibited Prohibited 38 35 Soft cap No cap No cap No cap No cap 20+ 313 Prohibited 36 36 None

GRADE F P F P NA P P F P P F F F F F F P P P NA

Website link to this document available at http://www.nclc.org/reports/content/cu-small-dollar-scorecard-2010.pdf.

  • *

    If the APR includes a plus sign (“+”), the grade is an F because the APR could be higher than the stated APR. This situation occurs

if the state permits exceptions to the criminal usury cap and one of the four loan products in the Scorecard has an APR that exceeds 36%. Several states permit lenders to pick one or two or more rate and/or fee alternatives when making smaller loans. Note that the Scorecard APRs are based upon the maximum permissible rates/fees regime.

20 5 Updated Small Dollar Loan Products

NATIONAL CONSUMER LAW CENTER

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