Absent specific enabling legislation, state usury ceilings on consumer loans generally prevent payday lending. Individual states may permit payday lending, generally under statutes different from those governing banks and other mainstream lenders.5 States can regulate numerous dimensions of payday lending, ...
arrangingoractingasanagentinthemakingofloans31ofThreeThousandDollars($3,000.00)orlessunless:32S.B.No.2666*SS01/R448*11/SS01/R448PAGE2(a)Suchpersonisengaginginfinancialtransactions33permittedpursuantto:34(i)Title81,MississippiCodeof1972;35(ii)Thelawsregulatingthesaleofchecks,36Section75-15-1etseq....
(ii)Thelawsregulatingthesaleofchecks,36 Section75-15-1etseq.;37 (iii)Chapter17ofTitle75,relatingtointerest38 andusury,andrevolvingchargeagreements;39 (b)Suchloansarelawfulunderthetermsof:40 (i)Chapter19ofTitle63,the"MotorVehicle 41 Sales Finance Law"; 42 ...