New Jersey payday loan laws

Legal Status: Prohibited

Consumer loan act applies but rates as agreed to by contract. N.J. Stat. Ann. tit. 17:1 et seq. However, criminal law sets the usury cap at 30%. N.J. Stat. Ann. 2C: 21-19, 17:11C-36(a).   A check cashing licensee cannot cash or advance money on a postdated check. N.J. Stat. Ann. 17:15A-47. 

Small Loan Rate Cap
30% per year

Where to Complain, Get Information:
Regulator: New Jersey Department of Banking and Insurance
Address: 20 West State St. Trenton NJ 08625
Phone: 609-292-7272
Fax: 609-454-8468

Sourced from