When you look at the state of brand new Jersey, payday lending is forbidden.
Nj-new jersey is just one of the continuing states that prohibit payday financing at extortionate rates of interest. All payday loan providers wanting to run when you look at the state should stick to 30% APR usury limit ( at the time of the unlawful usury statute), additionally, none associated with the check casher companies are permitted to advance cash on postdated checks. (more…)