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Washington Administrative Code (Last Updated: November 23, 2016) |
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Title 208. Financial Institutions, Department of (See Titles 50, 419, and 460) |
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Chapter 208-630. Regulation of check cashers and sellers and small loans (payday lenders). |
Section 208-630-461. What is the maximum amount that all licensees may lend to a borrower?
Latest version.
- The total outstanding principal of all small loans made by all licensees to a single borrower may not exceed seven hundred dollars or thirty percent of the borrower's gross monthly income, whichever is lower.[Statutory Authority: RCW 43.320.040, 31.45.200, and 2009 c 510. WSR 09-24-089, § 208-630-461, filed 12/1/09, effective 1/1/10.]
RCW 43.320.040, 31.45.200, and 2009 c 510. WSR 09-24-089, § 208-630-461, filed 12/1/09, effective 1/1/10.