Regulator Details

Nebraska Department of Banking & Finance

Financial Institutions
1230 'O' Street, Suite 400 P.O. Box 95006
Lincoln, NE 68509
Phone: (402) 471-2171
Contact: Karen Reynolds, Review Examiner

Nebraska Payday Loan Laws

Nebraska Payday Loan Laws Details

The data provided here is for general informational purposes and should not be used as legal reference. If you have questions regarding Nebraska payday loan laws contact the Nebraska Department of Banking & Finance.

Payday loans are legal in Nebraska (see Nebraska Payday Loans or Nebraska Installment Loans to compare fees and requirements for individual lenders).

Feature Specification
Amount (max) $500
Rates or Fees (max) $15 per $100 or pro rata for any part thereof on amount of check
Term Limitations Max: 34 days
General Loan Terms

In Nebraska, no rollovers are permitted (cannot repay, refinance, consolidate). Nothing is mentioned about cooling periods between loans. Nebraska has no requirements for extended repayment plans.

For example, in Nebraska the rates and fees on a 14 day, $100 loan are:

Terms Amount
Loan Amount $100
Fees $17.65
APR 459%
Sample Loan Terms

Nebraska also defines regulations around collections. If available, the table below lists the fees lenders are permitted to charge if the loan is not repaid and/or whether a lender can threaten use of or use criminal action if a borrower is unable to repay a loan.

Feature Specification
Collection Fees $15 NSF fee
Regulations on Collections
Finally, a more detailed excerpt from Nebraska's statutes on finance charges is listed below. In general the tables above summarize this.

No licensee shall charge as a fee a total amount in excess of $15 per $100 or pro rata for any part thereof on the face amount of a check for services provided by licensee.

Citation: Neb. Stat. Ann. Sections 45-901.