The maximum payday loan amount is $500 in the state of Kentucky. The utmost loan term is 60 times. Rollovers are forbidden. Average APR for a $300 pay day loan is 460%*. Finance costs per $100 must not surpass $15. Unlawful actions are forbidden.
At the time of March 2019, Kentucky introduced a fresh S.B. 145 that separates licenses for check cashers and deferred deposit transactions companies. Continue reading “Kentucky Cash Advance Law and Legislation. Payday financing is appropriate in Kentucky.”