Statutes, codes, and regulations
Washington Administrative Code
Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460)Chapter 208-630 - Regulation of check cashers and sellers and small loans (payday lenders)
SMALL LOAN REQUIREMENTS (PAYDAY LENDING)
Section 208-630-461 - What is the maximum amount that all licensees may lend to a borrower?

Wash. Admin. Code § 208-630-461

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Current through Register Vol. 24-12, June 15, 2024
Section 208-630-461 - What is the maximum amount that all licensees may lend to a borrower?

The total outstanding principal of all small loans made by all licensees to a single borrower may not exceed seven hundred dollars or thirty percent of the borrower's gross monthly income, whichever is lower.

Wash. Admin. Code § 208-630-461

Statutory Authority: RCW 43.320.040, 31.45.200, and 2009 c 510. 09-24-089, § 208-630-461, filed 12/1/09, effective 1/1/10.