Responsible Lending

Last updated: March 8, 2026

Borrow Responsibly

Payday loans should only be used for short-term financial emergencies. Before applying:

Borrow only what you can repay - Don't exceed your repayment ability
Understand the cost - Review APR and total repayment amount
Have a repayment plan - Know where the money will come from
Consider alternatives - Explore credit unions, salary advances, or payment plans

Warning Signs

Payday loans may not be right for you if:

You need money for non-essential expenses
You can't afford to repay on your next payday
You're already behind on other bills
You've rolled over loans multiple times

Get Help

If you're struggling with debt:

Consumer Financial Protection Bureau (CFPB): consumerfinance.gov
National Foundation for Credit Counseling: 1-800-388-2227
State financial regulators: Check your state's banking department

Military Lending Act (MLA) Protections

If you are an active-duty service member or a dependent of one, you are protected under the Military Lending Act (10 U.S.C. § 987). Key protections include:

36% MAPR cap — The Military Annual Percentage Rate (MAPR) is capped at 36% for all consumer credit products, including payday loans
No mandatory arbitration — You cannot be required to waive your right to legal proceedings
No mandatory allotment — Lenders cannot require a military allotment for repayment
No prepayment penalties — You can repay early without extra fees
No rollover fees — Lenders cannot charge fees for rolling over or renewing a loan

Lenders must verify active-duty status through the Department of Defense MLA Database. For more information, visit the CFPB Military Lending Act Guide or contact your installation's legal assistance office.

Compare alternatives before borrowing

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