Regulator Details

Nevada Financial Institutions Division

2785 E. Desert Inn Rd., Suite 180
Las Vegas, NV 89121
Phone: (702) 486-4120
Fax: (702) 486-4563
Contact: Supervisory Examiner

Nevada Payday Loan Laws

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Nevada 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 Nevada payday loan laws contact the Nevada Financial Institutions Division.

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

Feature Specification
Amount (max) 25% of expected gross monthly income
Rates or Fees (max) Not Specified (After default: interest rate must be equal to or less than the prime rate at the largest bank in the State of Nevada plus 10 %)
Term Limitations Max: 35 days; up to 90 days allowed if the initial agreement provides for installment payments and is not subject to extension
General Loan Terms

In Nevada, rollovers are not specified but lenders cannot extend payment period beyond 60 days after expiration of initial loan period. Nothing is mentioned about cooling periods between loans. Nevada requires extended repayment plans.

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

Terms Amount
Loan Amount $100
Fees No Limit
APR No Limit
Sample Loan Terms

Nevada 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 $25 dishonored check fee (max. two fees for insufficient funds; max. one fee for closed account); court costs; reasonable attorney's fees; service of process costs
Criminal Action Prohibited (Unless customer acted with criminal intent)
Regulations on Collections
Finally, a more detailed excerpt from Nevada's statutes on finance charges is listed below. In general the tables above summarize this.

Notwithstanding any other provision of law, a violation of any provision of §670 of the John Warner National Defense Authorization Act for Fiscal Year 2007, Public Law 109-364, or any regulation adopted pursuant thereto shall be deemed to be a violation of this chapter. 

Citation: Nev. Rev. Stat. 604A.010 et seq.