Skip to main content
50-State Survey of Consumer Finance Laws
Top Category


Nov 19, 2020

As part of the Vision 2020 initiative, CSBS convened a Fintech Industry Advisory Panel (FIAP) designed to support state regulators’ increased efforts to engage with financial services companies involved in fintech. The FIAP engaged with the CSBS Emerging Payments and Innovation Task Force and other state regulators to identify actionable steps for improving state licensing, regulation, and non-depository supervision and for supporting innovation in financial services. 

The group released a series of recommendations for state regulators to consider when streamlining nonbank supervision.  Those recommendations included the creation of this 50-state survey of consumer finance licensing laws for reference use by regulators, industry, consumer groups and other stakeholders.  
The information provided in this 50-state survey of consumer finance licensing laws allows users to see similarities and differences across licensing schemes in all 50 states and Washington, D.C., and allows industry, particularly new entrants, a clear look at state compliance requirements.  Additionally, the survey now contains a comprehensive catalog of state usury laws, including applicable allowable interest rates. 


The survey identifies state licensing and lending requirements for “consumer loans,” however that may be defined by state statutes (note that payday, title lending, and other more targeted license types are not included in the research). The state law survey includes which business activities trigger a consumer loan license and whether the statute applies to commercial lending as well as noting major license requirements, statutorily mandated loan terms and limits on fees and charges. 


Legal interest rates can depend on the lender, borrower, loan amount, and the subject of the transaction. Choose a link from the list below for state-specific interest rate laws, including maximum rates, penalties, and exceptions to interest rate limits.  Usury laws define the maximum interest rate that can be charged to borrowers, depending on the types of loans they are receiving. 

Links and citations to full state statutes are also included.  

Information contained in the consumer finance law survey has been reviewed and verified by the appropriate state regulatory authority.  State information will be updated on an annual basis. 
To get started, click on a state in the map below for a dropdown menu of license requirements, loan terms, fees and charges and state usury laws.  An interactive spreadsheet is also available to view all state provisions. 



1300 I Street NW, Suite 700 East, Washington, DC 20005 | Tel. 202.296.2840 | Fax. 202.296.1928