Oregon Payday Loan Laws and Regulations

The following rules and regulations pertain to all payday loan transactions in Oregon:

- Maximum amount borrowed: unspecified
- Loan term: Minimum 31 days
- Finance charge per $100: $13 (loan tenure 31 days)
- APR per $100 loan for 14 days: 156% APR (tenure 31 days)
- No limit on simultaneously outstanding loans
- Two renewals (rollovers) allowed
- Cooling Off Period: 7 days after last loan expires
- Collection Fee: $20 NSF fee along with any additional bank charges

The maximum finance rates are set at 36% interest rates. Generally, a borrower will pay anywhere between $10 to $30 for a $100 loan. Borrowers are advised to carefully read up on the laws before they finalize any payday loan transaction and compare them with the terms specified above.

Oregon Consumer Protection

All queries, complaints and issues are handled by the Oregon Department of Consumer and Business Services. Any comments, questions or problems can be forwarded directly to them. They can be contacted via email, through their official website or via phone.

Division of Finance & Corporate Securities
350 Winter St. NE, Rm. 410
Salem, OR 97301
Phone: (503) 378-4140 
Fax: (503) 947-7862
Website: http://www.cbs.state.or.us/dfcs/

Interesting Facts about Oregon
  1. Located in the Pacific Northwest region of the United States, Oregon is bordered by the Pacific Ocean on its west, Washington to the north, south California, Idaho to the east, and Nevada to its southeast. Oregon became the 33rd state on February 14, 1859 after an autonomous government was formed in 1843 in Orange County.
  2. Oregon is the ninth largest state and also the 27th most populated state, whereas the Willamette River Valley situated in western Oregon is the most densely populated area. Incidentally, nearly eight of the ten cities with the highest population are located here.
  3. Mount Hood is Oregon’s highest point at 11,249 feet (3,429 m). The state has a single national park, Crater Lake National Park situated in southern Oregon. It is America’s fifth oldest national park.
  4. The earliest usage of the name Oregon originated from the word ‘Ouragon’, and was mentioned in a 1765 petition made out to the Kingdom of Great Britain by Major Roberts. One theory is that the name spawned from the French word ‘Ouragan’, which meant windstorm. This was probably applied to the River of the West, which was thought to arise in Minnesota and to flow west through the Great Plains.
  5. A more plausible explanation was advanced by George R. Stewart in the book “Oregon Geographic Names,” that included a 1944 article titled American Speech. According to him, the name arose from an error made by an engraver in an early French map when the Ouisiconsink (Wisconsin) River was misspelt as "Ouaricon-sint," which gave the impression of a river named “Ouaricon” flowing to the west.
  6. Evidence points to the fact that Oregon has been inhabited for at least 15,000 years, with remnants being found at Paisley Caves in Lake County and the Fort Rock Cave. Material from the Fort Rock Cave has been dated from as far back as 13,200 years ago by archaeologist Luther Cressman. Oregon was home to a myriad of Native American groups including the Bannock, Molalla, Nez Perce, Klamath, Coquille (Ko-Kwell), Chasta, Umpqua and Tillamook.
  7. The Columbia River is one of the largest rivers in North America, and it largely forms Oregon’s northern border. The Columbia caused a huge deluge across Oregon around 15,000 years ago during the Missoula Floods. This inundation has given rise to the large fertility of the Willamette Valley. Many consider the gorge along the Columbia River as the best place to windsurf, whereas the D River is claimed to be the shortest river in the world.
  8. Oregon’s Mill Ends Park, located in Portland, is the world’s smallest park at 452 square inches. It also boasts of being home to the smallest organism in the world, an Armillaria solidipes fungus which may be found beneath Malheur National Forest in eastern Oregon.
  9. Portland has the largest number of breweries in the world.
  10. The Oregon state flag is the only state flag that sports two different designs on its sides, with a beaver on its reverse side.
  11. Oregon is home to the largest number of ghost towns in North America.
  12. It is the only state to have an official state nut, the hazelnut, also termed filbert.
  13. Oregon celebrates its birthday on Valentine’s Day.
  14. Oregon is one of two states in the United States that does not have self-service gas stations.
  15. Of all the overland routes that were employed in the westward expansion of USA, the Oregon Trail is the longest.
  16. To honor the Lewis and Clark expedition which was made in search of the Northwest Passage, the world’s largest log cabin was built in Portland in 1905.
  17. At the Columbia Gorge Interpretive Center, the largest rosary collection made by a local resident was exhibited.
  18. Oregon’s largest state park is the Silver Falls State Park. It consists of ten waterfalls and a wide range of hiking trails.
  19. The H.J Andrews Experimental Forest is deemed to be one of the biggest sites for ecological research in the United States.
  20. The Cascade Mountains’ richest gold find was found in the Bohemia Mining District in 1858, close to Cottage Grove.
  21. The Hell’s Canyon is Oregon's deepest gorge at 7,900 feet, which is located between Idaho and Oregon on the Snake River.

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