The maximum charge a payday loan provider may charge in Washington state is $15 for each $100 loaned.

The maximum charge a payday loan provider may charge in Washington state is $15 for each $100 loaned.

State legislation additionally limits payday loan providers to a one-time charge of $25 for bounced checks on a person loan it doesn’t matter how numerous checks bounce whenever a lender tries to gather re re payment onto it, she claims.

Flores says a debtor who bounced three checks on payment of the payday that is single — causing Cash supply to reduce money as a result of returned check charges from the bank — had been the past straw for accepting brand brand new pay day loan borrowers. […]

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