Numerous rules control short-term loans. In Oklahoma, payday lenders must stick to the Oklahoma Deferred Deposit Lending Act. That legislation sets the finance charges, or rates of interest, a lender that is payday charge.

Oklahoma City payday loan providers can’t charge a lot more than $15 in interest per $100 on loans as much as $300. They can’t charge a lot more than yet another ten dollars cost for each $100 above $300.Continue reading→