California Payday Loan Laws
 | Max Term of Payday Loan: | 31 days | | Max Fees and Finance Charges: | 15% | | Maximum Loan Amount: | $300 | | Number of Rollovers: | None (cannot charge fee for extension) | | Outstanding loans allowed at one time: | One | | Cool-off period: | Not specified | | Military Protection: | Not specified | | Payment Plan: | Not specified | | Limits on collection and presentment: | Not specified | | Collection fees: | $15 NSF fee | | Presentment Limit: | Not specified | | Penalties: | Civil Fines, Suspension or revocations of license; Cease and Desist Order; Criminal | | Private right of action: | Not specified |
California Payday Loan Laws:
A.B. 207 introduced in 2005 prohibits the fee for some deferred deposit transactions from exceeding an effective annual rate greater than 10 percent; Requires a check from a customer for these deferred deposit transactions to be made payable to the actual name of the licensee; Prohibits a check that has been held by a licensee for more than 31 days from being presented to a bank for payment.
| Payday Loan Laws: |
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