50-State Guide · Updated 2026-08-20
Personal Loan Laws by State — Rate Caps & Regulators in All 50 States
Personal-loan rate regulation varies more state to state than almost any other consumer credit product — one state caps rates in its constitution, another has repealed its usury cap entirely, and many tie the limit to the loan's size and the lender's license. Below is the state-by-state regulator and rate-regulation picture for all 50 states, the one rate cap that applies everywhere, and how to actually shop for the best rate.
How personal loan regulation works in the United States
There is no single national cap on personal-loan interest rates. Each state's banking, financial-institutions, or securities department licenses the consumer lenders that operate there and sets or enforces the rate rules that apply — and those rules genuinely differ. Some states run a general usury cap; Arkansas caps consumer-loan rates in its state constitution (Amendment 89); California's Financing Law caps rates on consumer loans under $10,000 but leaves larger loans uncapped; Arizona repealed its general usury cap so licensed-lender pricing is market-driven. That's why the practical answer to "what's the rate cap in my state?" is almost always "it depends on the loan size and the lender's license — verify with the regulator."
Two things apply in all 50 states. First, the federal Consumer Financial Protection Bureau enforces fair-lending, disclosure (Truth in Lending), and debt-collection rules nationwide. Second, the Military Lending Act caps most consumer loans to active-duty servicemembers and their dependents at a 36% Military APR everywhere. ClearValue Lending does not originate personal loans; it helps borrowers compare options.
Consumer lending regulator & rate regulation, by state
All 50 states. The regulator column links to each state's own agency — use it to verify a lender's license or confirm the current rate cap. States with a dedicated ClearValue Lending state guide are linked in the first column.
| State | Regulator | How rate regulation works |
|---|---|---|
| Alabama | Alabama State Banking Department | Alabama regulates consumer loan rates through the Alabama State Banking Department. Rate caps vary by loan type and amount — verify current limits with the regulator before borrowing. |
| Alaska | Alaska Division of Banking and Securities | Alaska's Division of Banking and Securities oversees consumer lending rate regulations. Given Alaska's remote geography and smaller lender pool, comparing online lenders alongside local credit unions is especially important. |
| Arizona | Arizona Department of Insurance and Financial Institutions | The Arizona Department of Insurance and Financial Institutions (DIFI) regulates consumer loan rates in Arizona. Arizona repealed its general usury cap for consumer loans — rate limits now depend on license type and loan structure. Verify with DIFI or consumerfinance.gov. |
| Arkansas | Arkansas Securities Department | Arkansas has a constitutional interest rate cap — the Arkansas Constitution Amendment 89 sets a cap on consumer loan interest rates. The specific cap and applicable exemptions are enforced by the Arkansas Securities Department. Verify current limits before borrowing. |
| California | California Department of Financial Protection and Innovation | California's DFPI enforces rate caps for consumer loans under $10,000 under the California Financing Law. Loans of $10,000+ have no statutory cap under the CFL, though market rates apply. Consult dfpi.ca.gov or consumerfinance.gov for current guidance. |
| Colorado | Colorado Division of Banking | Colorado enacted rate cap legislation for consumer loans (the Colorado Uniform Consumer Credit Code). The UCCC sets limits that apply to many consumer loan products. The Colorado Division of Banking and the UCCC administrator enforce these rules — verify current caps at banking.colorado.gov. |
| Connecticut | Connecticut Department of Banking | The Connecticut Department of Banking enforces rate limits for consumer loans in Connecticut. Small-loan laws and general usury provisions apply depending on loan type and size. Verify current rate caps at portal.ct.gov/dob or consumerfinance.gov. |
| Delaware | Delaware Office of the State Bank Commissioner | Delaware has historically had permissive lending laws — the state's banking-friendly legal framework is why many national card issuers are chartered here. However, consumer borrowers from Delaware are protected by CFPB rules. Verify any lender's license at banking.delaware.gov. |
| Florida | Florida Office of Financial Regulation | The Florida Office of Financial Regulation (OFR) licenses consumer lenders under the Florida Consumer Finance Act. Rate limits apply to loans under specific thresholds — verify current caps at flofr.gov or consumerfinance.gov. |
| Georgia | Georgia Department of Banking and Finance | The Georgia Department of Banking and Finance enforces consumer lending laws including the Georgia Industrial Loan Act, which sets rate and fee limits for consumer installment loans. Verify current applicable caps at dbf.georgia.gov or consumerfinance.gov. |
| Hawaii | Hawaii Division of Financial Institutions | Hawaii's Division of Financial Institutions enforces consumer lending rate regulations. Hawaii has general usury limits that apply to consumer loans — verify current specifics at cca.hawaii.gov/dfi/ or consumerfinance.gov. |
| Idaho | Idaho Department of Finance | The Idaho Department of Finance licenses and supervises consumer lenders. Idaho's Consumer Credit Code governs rate limits for various loan types. Verify current caps at finance.idaho.gov or consumerfinance.gov. |
| Illinois | Illinois Department of Financial and Professional Regulation | The Illinois DFPR enforces consumer loan rate caps under the Illinois Consumer Installment Loan Act (CILA), which sets specific APR limits for consumer installment loans. Illinois enacted a 36% APR cap on consumer loans (effective 2021). Verify current rules at idfpr.illinois.gov or consumerfinance.gov. |
| Indiana | Indiana Department of Financial Institutions | The Indiana Department of Financial Institutions (DFI) oversees consumer lending under Indiana's Uniform Consumer Credit Code (UCCC). Rate limits apply to consumer installment loans — verify current caps at in.gov/dfi or consumerfinance.gov. |
| Iowa | Iowa Division of Banking | The Iowa Division of Banking licenses and supervises consumer lenders. Iowa's consumer lending laws set rate guidelines for installment loans. Verify current caps at idob.iowa.gov or consumerfinance.gov. |
| Kansas | Kansas Office of the State Bank Commissioner | The Kansas Office of the State Bank Commissioner oversees consumer lending. Kansas's Uniform Consumer Credit Code sets rate limits for consumer installment loans. Verify current caps at osbckansas.org or consumerfinance.gov. |
| Kentucky | Kentucky Department of Financial Institutions | The Kentucky Department of Financial Institutions (DFI) licenses consumer lenders. Kentucky's consumer lending statutes set rate limits for installment loans. Verify current caps at kfi.ky.gov or consumerfinance.gov. |
| Louisiana | Louisiana Office of Financial Institutions | The Louisiana Office of Financial Institutions (OFI) licenses consumer lenders. Louisiana's consumer loan statutes set rate limits for installment loans. Verify current caps at ofi.la.gov or consumerfinance.gov. |
| Maine | Maine Bureau of Consumer Credit Protection | Maine's Bureau of Consumer Credit Protection (BCCP) enforces rate limits under Maine's Consumer Credit Code. Maine sets specific APR caps for consumer installment loans. Verify current limits at maine.gov/pfr/consumercredit/ or consumerfinance.gov. |
| Maryland | Maryland Office of Financial Regulation | Maryland's Office of Financial Regulation enforces rate limits under Maryland's Consumer Loan Law. Maryland sets specific interest rate caps for consumer installment loans. Verify current limits at labor.maryland.gov/finance/ or consumerfinance.gov. |
| Massachusetts | Massachusetts Division of Banks | The Massachusetts Division of Banks licenses consumer lenders under Massachusetts's Small Loans Act and related statutes. Massachusetts has general usury limits and specific small-loan rate caps. Verify current limits at mass.gov/orgs/division-of-banks or consumerfinance.gov. |
| Michigan | Michigan Department of Insurance and Financial Services | Michigan's DIFS enforces rate limits under the Michigan Regulatory Loan Act and related consumer lending laws. Specific APR caps apply by loan amount and type. Verify current limits at michigan.gov/difs or consumerfinance.gov. |
| Minnesota | Minnesota Department of Commerce | The Minnesota Department of Commerce licenses consumer lenders under Minnesota's Consumer Small Loan Act and related statutes. Rate limits apply to consumer installment loans. Verify current caps at mn.gov/commerce or consumerfinance.gov. |
| Mississippi | Mississippi Department of Banking and Consumer Finance | The Mississippi Department of Banking and Consumer Finance licenses consumer lenders. Mississippi's consumer loan statutes set rate limits for installment loans. Verify current limits at dbcf.ms.gov or consumerfinance.gov. |
| Missouri | Missouri Division of Finance | The Missouri Division of Finance licenses consumer lenders under Missouri's consumer credit statutes. Missouri has relatively permissive rate rules compared to some neighboring states — verify current caps at finance.mo.gov or consumerfinance.gov. |
| Montana | Montana Division of Banking and Financial Institutions | Montana's Division of Banking and Financial Institutions regulates consumer lenders. Montana enacted a 36% APR cap on consumer loans. Verify current rules at banking.mt.gov or consumerfinance.gov. |
| Nebraska | Nebraska Department of Banking and Finance | The Nebraska Department of Banking and Finance licenses consumer lenders under Nebraska's Installment Loan Act and related statutes. Rate limits apply to consumer installment loans. Verify current caps at ndbf.nebraska.gov or consumerfinance.gov. |
| Nevada | Nevada Financial Institutions Division | Nevada's Financial Institutions Division (FID) licenses consumer lenders. Nevada has historically had permissive rate rules — there is no state interest rate cap for many consumer loan types. The CFPB's federal consumer protection rules still apply. Verify at fid.nv.gov. |
| New Hampshire | New Hampshire Banking Department | The New Hampshire Banking Department licenses consumer lenders under New Hampshire's consumer credit statutes. New Hampshire regulates consumer loan rates — verify current limits at banking.nh.gov or consumerfinance.gov. |
| New Jersey | New Jersey Department of Banking and Insurance | New Jersey's DOBI enforces rate limits under the New Jersey Consumer Finance Licensing Act. New Jersey regulates consumer loan rates — verify current caps at state.nj.us/dobi or consumerfinance.gov. |
| New Mexico | New Mexico Financial Institutions Division | New Mexico's Financial Institutions Division licenses consumer lenders. New Mexico enacted significant consumer lending reform — including rate caps and extended loan term requirements — verify current rules at rld.nm.gov/financial-institutions/ or consumerfinance.gov. |
| New York | New York Department of Financial Services | The New York DFS enforces a usury ceiling under New York Banking Law — the civil usury cap is 16% APR for loans over $25,000. For smaller consumer loans, different rate rules apply. Verify current specifics at dfs.ny.gov or consumerfinance.gov. |
| North Carolina | North Carolina Commissioner of Banks | The NC Commissioner of Banks enforces the North Carolina Consumer Finance Act, which sets rate limits for consumer installment loans. Verify current caps at nccob.gov or consumerfinance.gov. |
| North Dakota | North Dakota Department of Financial Institutions | The North Dakota Department of Financial Institutions licenses consumer lenders. North Dakota's consumer credit laws set rate limits — verify current caps at nd.gov/dfi or consumerfinance.gov. |
| Ohio | Ohio Division of Financial Institutions | Ohio's Division of Financial Institutions enforces rate limits under the Ohio Consumer Installment Loan Act. Ohio has rate caps for consumer installment loans — verify current specifics at com.ohio.gov/divisions/financial-institutions or consumerfinance.gov. |
| Oklahoma | Oklahoma Department of Consumer Credit | Oklahoma's Department of Consumer Credit licenses consumer lenders and enforces the Oklahoma Consumer Credit Code. Rate limits apply to consumer installment loans — verify current caps at ok.gov/okdocc or consumerfinance.gov. |
| Oregon | Oregon Division of Financial Regulation | Oregon's Division of Financial Regulation licenses consumer lenders. Oregon enacted a 36% APR cap on consumer loans. Verify current rules at dfr.oregon.gov or consumerfinance.gov. |
| Pennsylvania | Pennsylvania Department of Banking and Securities | Pennsylvania's Department of Banking and Securities enforces consumer lending laws including the Consumer Discount Company Act. Pennsylvania has rate limits for consumer installment loans — verify current caps at dobs.pa.gov or consumerfinance.gov. |
| Rhode Island | Rhode Island Department of Business Regulation | Rhode Island's Department of Business Regulation licenses consumer lenders. Rhode Island sets rate limits for consumer loans under its consumer lending statutes. Verify current caps at dbr.ri.gov or consumerfinance.gov. |
| South Carolina | South Carolina Board of Financial Institutions | South Carolina's Board of Financial Institutions licenses consumer lenders under the South Carolina Consumer Protection Code. Rate limits apply to consumer installment loans — verify current caps at bfi.sc.gov or consumerfinance.gov. |
| South Dakota | South Dakota Division of Banking | South Dakota, like Delaware, is a banking-charter-friendly state and home to many national card and lender headquarters. South Dakota has no general usury cap for state-chartered banks, though CFPB consumer protection rules apply. Verify any lender at dlr.sd.gov/banking/. |
| Tennessee | Tennessee Department of Financial Institutions | Tennessee's TDFI enforces rate limits under the Tennessee Industrial Loan and Thrift Act and related consumer lending statutes. Rate limits apply to consumer installment loans — verify current caps at tn.gov/tdfi.html or consumerfinance.gov. |
| Texas | Texas Office of Consumer Credit Commissioner | Texas's Office of Consumer Credit Commissioner (OCCC) enforces rate limits under the Texas Finance Code. Personal installment loan rates are subject to OCCC oversight — verify current caps at occc.texas.gov or consumerfinance.gov. |
| Utah | Utah Department of Financial Institutions | Utah's Department of Financial Institutions licenses consumer lenders under the Utah Consumer Credit Code. Utah has historically had permissive rate rules — some large national online lenders are chartered in Utah. Verify current rules at dfi.utah.gov or consumerfinance.gov. |
| Vermont | Vermont Department of Financial Regulation | Vermont's Department of Financial Regulation licenses consumer lenders. Vermont has a general usury ceiling and specific consumer-loan rate limits. Verify current specifics at dfr.vermont.gov or consumerfinance.gov. |
| Virginia | Virginia Bureau of Financial Institutions | Virginia enacted significant consumer lending reform (effective 2021) — the Virginia Consumer Protection Act established a 36% APR cap on consumer loans and required minimum loan terms. Verify current rules at scc.virginia.gov or consumerfinance.gov. |
| Washington | Washington Department of Financial Institutions | Washington's DFI enforces rate limits under Washington's Consumer Loan Act. Washington regulates consumer loan APRs and requires lender licensing. Verify current caps at dfi.wa.gov or consumerfinance.gov. |
| West Virginia | West Virginia Division of Financial Institutions | West Virginia's Division of Financial Institutions licenses consumer lenders. West Virginia has consumer lending rate limits — verify current caps at dfi.wv.gov or consumerfinance.gov. |
| Wisconsin | Wisconsin Department of Financial Institutions | Wisconsin's DFI licenses consumer lenders under Wisconsin's Consumer Act. Wisconsin sets rate limits for consumer installment loans. Verify current caps at wdfi.org or consumerfinance.gov. |
| Wyoming | Wyoming Division of Banking | Wyoming's Division of Banking licenses consumer lenders. Wyoming has historically had permissive usury laws — verify current consumer-loan rate rules at wyomingbankingdivision.wyo.gov or consumerfinance.gov. |
Source: each state's own banking / financial-institutions / securities regulator (linked above), cross-referenced with the CFPB. Not legal advice — confirm any specific rate cap or license status with the state regulator before relying on it for a transaction.
The move that beats geography: prequalify with several lenders
Your state's usury cap sets an outer ceiling, but the rate you actually pay is set by competition and your credit tier — and the gap between lenders is large. At the same credit score, the APR spread across lenders can exceed 15 percentage points. Prequalification is how you find the low end: most reputable lenders let you check your estimated rate with a soft credit pull that does not affect your score, so you can compare three or more real offers before you commit to a hard inquiry. That single habit does more for your cost of borrowing than which state you live in.
- Check your credit score first (it's free) so you know which rate tier to expect.
- Prequalify with several lenders using the soft-pull precheck — bank, credit union, and national online lenders licensed in your state — and compare the full APR, not just the monthly payment.
- Verify any lender's license with your state regulator (linked in the table above) before sharing personal information.
- If you're active-duty military, confirm the 36% Military APR cap is honored — it applies in every state.
Personal loan laws — common questions
Who regulates personal loans in my state? +
Consumer lending is regulated at the state level by each state's banking, financial-institutions, or securities department — the table on this page lists the specific agency and its website for all 50 states. Those agencies license the consumer lenders that operate in the state and enforce whatever rate and small-loan rules apply there. On top of that, the federal Consumer Financial Protection Bureau (CFPB) supervises larger lenders and enforces fair-lending, disclosure, and debt-collection rules nationwide.
Does every state cap personal loan interest rates? +
No — and this is where state law varies the most. Some states enforce a general usury cap or a consumer-credit code that sets clear rate limits (Arkansas even caps consumer loan rates in its state constitution, under Amendment 89). Others have repealed their general usury cap (Arizona) or tie the limit to the lender's license type and the loan size (California's Financing Law caps rates on consumer loans under $10,000 but not above). Because the rule depends on the loan type, amount, and the lender's license, there is no single national cap — check your state's row in the table, then confirm the current limit with the regulator linked there.
Is there any rate cap that applies in all 50 states? +
Yes, in specific situations. The federal Military Lending Act caps most consumer loans to active-duty servicemembers and their dependents at a 36% Military Annual Percentage Rate (MAPR), in every state. Outside of that, there's no single federal interest-rate cap on personal loans for the general public — federal law focuses on disclosure (Truth in Lending), fair lending, and collection practices, while the rate ceiling itself is left to the states.
What credit score do I need for a personal loan? +
Requirements are set by lenders, not by state law, so they're broadly similar across all 50 states. Many online lenders approve from around 580–620 FICO; banks and credit unions often want 660 or higher; the lowest APRs go to borrowers at roughly 720 and above. What changes state to state is which lenders are licensed to operate and how much they compete — which is exactly why comparing several prequalified offers matters.
How should I shop for a personal loan? +
Use prequalification. Most reputable lenders let you check your estimated rate with a soft credit pull that does not affect your credit score, so you can compare several real offers before committing to a hard inquiry. The APR spread between lenders at the same credit tier can exceed 15 percentage points, so getting three or more prequalified offers is the single highest-value step — far more than which state you're in.
How often is this page updated? +
This page was last reviewed 2026-08-20. State consumer-lending and usury law is an active area — rate caps and small-loan rules change by legislative session. Each state's row links to its regulator; confirm the current cap there before relying on it for a transaction.
Sources & methodology
- State regulator names and rate-regulation frameworks: each state's own banking, financial-institutions, or securities department (linked in the table above); specific statutes referenced (Arkansas Amendment 89, California Financing Law, Colorado UCCC, Georgia Industrial Loan Act, Arizona usury repeal) are the states' own public law.
- Federal protections: Consumer Financial Protection Bureau (Truth in Lending, fair lending, debt collection) and the Military Lending Act 36% MAPR cap.
- No per-state APR, fee, or approval-rate figure is fabricated on this page — rate regulation varies by state, loan size, and lender license, and this page states that honestly rather than inventing a single cap per state.
Editorial disclaimer: Information on this page reflects the sources cited above as of August 20, 2026. State consumer-lending law changes — confirm current status before relying on this page for a transaction. All financing is subject to lender partner approval. ClearValue Lending is a business & personal financing platform — not a lender, broker, or financial advisor. Not legal, tax, or financial advice.
Ready to compare personal loan offers?
Prequalify with a soft credit pull and compare real offers side by side — the fastest way to find the lowest rate you actually qualify for, in any state.
Compare personal loan options →