Connecticut Payday Loan Laws & Legislation

Connecticut Payday loan laws. Connecticut Payday loan legislation. Connecticut does not have specific payday loan safe-harbor legislation. At this time, the best approach is to offer payday loans via the Internet, one of the alternative methods (cash rebates, ISP model, etc.) discussed in our training materials, or the newest model, the CSO (Credit Services Organization) approach.

For a thorough discussion of the payday loan industry and access to our payday loan training materials, we recommend you proceed to Payday and Paycheck Loans.com

Connecticut Payday Loan Laws & Legislation State Information Legal Status: Prohibited Citation: Usury act applies or small loan act applies. Conn. Gen. Stat.§ 36a-563 Small Loan Rate Cap 30.03% APR or $17 per $100 up to $600; $11 per $100 up to $1,800; add-on interest Where to Complain, Get Information: Regulator: Connecticut Department of Banking Address: 260 Constitution Plaza Hartford CT 06103 Phone: (860) 240-8299 Fax: (860) 240-8167 Regulatory Contact: Alan Cicchetti Deputy Commissioner Regulator’s Website Online Resources: Consumer Information and Educational Programs