Maine payday loan laws

Legal Status: Legal (Lower Cost)

Maine’s UCCC applies. Me. Rev. Stat. tit. 9-A § 1-201,  2-401.   32 Me. Rev. Stat. § 6138(4((D) prohibits check cashers from advancing money on a postdated check.  Supervised Lenders are exempt from that ban.

Small Loan Rate Cap
30% per year on amounts up to $2,000 or a fee of $5 for amounts financed up to $75; $15 minimum charge for amounts financed of $75.01-$249.99; or $25 for amounts financed of $250 or more.

Where to Complain, Get Information:
Regulator: Bureau of Consumer Credit Protection
Address: Department of Professional and Financial Regulation, 35 State House Station Augusta ME 04333
Phone: 800-332-8529
Fax: (207) 582-7699

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