Are Payday Loans Legal in the United States?
Payday loans are legal in most states, including in the US, however borrowing or giving out these loans is illegal in thirteen US states. Even states that allow the loans have placed some sort of regulations on them. Most of these regulations are in regard to interest rate. In some of the states that have restricted the amount of interest payday advance companies are allowed to charge, the licensed lenders have simply withdrawn from the market. The payay loan markey has not been affected ny US regulation in the UK and it is considered a good way to get hold of cash quickly.