Wyoming Payday Loan Laws Details
The data provided here is for general informational purposes and should not be used as legal reference. If you have questions regarding Wyoming payday loan laws contact the Wyoming Division of Banking.
Payday loans are legal in Wyoming (see Wyoming Payday Loans or Wyoming Installment Loans to compare fees and requirements for individual lenders).
| Feature | Specification |
|---|---|
| Amount (max) | Not Specified |
| Rates or Fees (max) | the greater of 20% per month or $30 |
| Term Limitations | 1 calendar month |
In Wyoming, no rollovers are permitted (cannot repay, refinance or consolidate by proceeds of another check). Nothing is mentioned about cooling periods between loans. Wyoming has no requirements for extended repayment plans.
For example, in Wyoming the rates and fees on a 14 day, $100 loan are:
| Terms | Amount |
|---|---|
| Loan Amount | $100 |
| Fees | $30 |
| APR | 780% |
Wyoming also defines regulations around collections. If available, the table below lists the fees lenders are permitted to charge if the loan is not repaid and/or whether a lender can threaten use of or use criminal action if a borrower is unable to repay a loan.
| Feature | Specification |
|---|---|
| Criminal Action | Prohibited (Prior to date on instrument) |