Commissions do not affect our editors' opinions or evaluations. A payday loan is a short-term, small loan that you repay once you receive your next paycheck, typically two to four weeks after you ...

Welcome to the “Payday and Small-Dollar Lending” chapter of our annual report, Consumer Financial Services: 2024 Year in Review.

The Indiana House approved a bill that would allow payday lenders to loan up to $5,000 at rates as high as 149%. Such loans would be considered felony loan sharking under current Indiana law.