$16.75% of the face amount of check.
Maximum term of 30 days. Maximum cash advance amount allowable is $350. Rollovers are prohibited (but can accept partial payment of 25% + fees and enter into a new agreement).
The only new legislation to become law was a payday loan industry supported bill sponsored by state Rep. Erich Ponti, R-Baton Rouge. This law specifies that payday loan internet lenders must comply with the same regulations as payday lenders with brick-and-mortar locations in Louisiana.
For a thorough discussion of the payday loan industry and access to our payday loan training materials, we recommend you proceed to PaydayManual.com
Louisiana Payday Loan Laws & Legislation State Information
Legal Status: Legal
Address: P.O. Box 94095 Baton Rouge LA 70804
Phone: (225) 925-4660
Fax: (225) 925-4548
Regulatory Contact: John J. Braud,, Deputy Chief Examiner
Licensee Database (On Home Page, select "Non-Depository" from blue menu at left, then "Payday Lenders," then "List of Active Payday Licensees")