Nevada Payday Loan Laws and Regulations

The payday loan laws of Nevada have been implemented in order to promote fairness between lenders and also to provide a protective measure for borrowers against fraudulent activities. Here are the rules and regulations applicable in Nevada relating to payday loans:

- Maximum loan amount: 20% of gross monthly income
- Loan tenure maximum 30 days. If participants agree on an installment plan, the tenure can be extended up till 90 days.
- Finance charge per $100: unlimited
- Repayment plans are allowed
- Collection fee: $25 for every check that is dishonored

No laws are set in place for rollovers or the number of outstanding loans that can be taken by a borrower, hence it is up to their discretion. Borrowers are advised to make related queries before finalizing their transaction.

Nevada Consumer Protection

You can protect yourself from fraudulent activities by getting up to speed with the laws and regulations that govern payday loans within Nevada. Borrowers are encouraged to carefully go through the regulations to avoid any confusion. In case of queries or any problems, the residents of Nevada can contact the Nevada Financial Institutions Division.

2785 E. Desert Inn Road, Suite 180
Las Vegas, NV 89121
Phone: (702) 486-4120
Fax: (702) 486-4563

You can establish contact via their official website or via email. Questions pertaining to lender validity can be sent via regulators.

Interesting Facts about Nevada
  1. As the 7th most extensive state, Nevada is the 35th most populous and the 9th least densely populated. The majority of its population, totaling to almost three-quarters, lives in Clark County.
  2. Nevada’s region is mostly composed of the Basin and Range Province, but it is broken up by many north-south mountain ranges. Most of the state is either desert or semiarid, where the Mojave Desert is in the south, and Lake Tahoe and the Sierra Nevada are on the western edge.
  3. Being an independent city, the capital of Nevada is Carson City. It was named after the mountain man, Kit Carson. Carson City remains one of the smallest state capitals in all of the U.S.
  4. Because of the historic and economic importance of silver, Nevada is officially known as the Silver State. It is also known as the Battle State due its statehood being won during the Civil War.
  5. The name Nevada means ‘snow-capped’ in Spanish, and it was derived from the nearby Sierra Nevada.
  6. Three Native American tribes, the Shoshone, Washoe and Paiute, originally inhabited the modern state until the Spanish claimed it as part of Alta California.
  7. Known for its libertarian laws with legalized gambling and lenient marriage and divorce proceedings which were established in the 20th century, Nevada is known worldwide as a major tourist destination.
  8. Tourism is the main industry for Nevada, and it is the largest employer in the state, followed closely by mining, which contributes to Nevada being the 4th largest producer of gold in the world.
  9. The Spring Mountain Range is the largest mountain range, just west of Las Vegas, and it is in the southern region of the state. While the lowest point is south of Laughlin, which runs along the Colorado River.
  10. Nevada has the driest climate out of all U.S.’s states, as it is made up of desert and semiarid regions with summer daytime temperatures reaching 125°F (52°C) and winter nighttime temperatures as low as -50°F (-46°C).
  11. Nevada has diverse vegetation due to its six biotic zones. These are alpine, sub-alpine, ‘Ponderosa Pine’, sagebrush, ‘pinion-juniper and creosote bush.
  12. Divided into 17 political jurisdictions, Nevada designates these as counties: Clark County, Elko County, Lincoln County and White Pine County.
  13. The Berlin-Ichthyosaur State Park is within a turn-of-the-century, well-preserved mining camp and is constructed around the fossils of ancient reptiles. In fact, the ichthyosaur, a type of dinosaur, is Nevada’s state fossil.
  14. Although most of Nevada is made up of desert, the Ruby Mountains in the Sierra Nevada range, located near Elko, has snow for half of the year.
  15. The John Huston movie, The Misfits, actually took its name from the Misfits Flats, which is an area off Highway 50, near Stagecoach.
  16. Nevada is home to the largest single public works project in American history, the Hoover Dam; moreover, it contains a million cubic yards of concrete.
  17. State Route 375 has been christened ‘The Extraterrestrial Highway’ due to the famous Area 51, which is situated near the town of Rachel.
  18. Major industries of Nevada are tourism, mining of gold and silver, and hydro-electric power.
  19. The top Nevada attractions includes of the Las Vegas Strip, the Hoover Dam, the Grand Canyon, Lake Tahoe, Lake Mead, the Lehman Caves and Red Rock Canyon.
  20. Following the largest and costliest telegraph transmission ever to Congress, Nevada became the 36th state on 31st October 1864.
  21. Lake Mead was formed by the construction of the Hoover Dam.
  22. The last rolling stock narrow-gauge railroad in Nevada was removed in 1938. The Eureka and Palisade Railroad was ninety miles long, and they carried silver-lead ore from Eureka to the truck line of the Southern Pacific Railroad through Palisade.
  23. Frenchman Flat was the site of nuclear testing of a 1-kiloton bomb at the Nevada Proving Ground in 1951. The last underground detonation was in 1992. The site is now a nuclear waste repository.
  24. The racial distribution of Nevada includes Whites (non-Hispanic), African American, American Indian and Alaskan Native, Asian American and Native Hawaiian or Pacific Islanders.
  25. Crossing the northern part of the state from east to west, the Humboldt River drains into the Humboldt Sink near Lovelock. Rivers that drain eastward from the Sierra Nevada are the Truckee, Carson and Walker rivers.
  26. With mountain peaks above 13,000 feet, there are areas of lush forests above the desert plains, creating for endemic species ‘sky islands’.
  27. Nevada ranks as the second state in the U.S. of being the most mountainous.
  28. Nevada only has an average rainfall of 7 inches per year.

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