Payday Loans
A payday loan is a small, unsecured, high interest, short-term cash loan. In most cases, consumers write a post-dated, personal check for the advance amount, plus a fee. The lender holds the check for the loan period and then deposits it, or the customer returns with cash to reclaim the check.
Although a payday loan may be a convenient short-term solution, it is inappropriate for long-term cash needs. Borrowers can get trapped in a payday loan cycle of debt by taking out loan after loan – sometimes called “rolling over” the loan.
Verify That A Payday Lender Is Licensed
- To verify that a payday lender is licensed to do business in Washington State, visit our online licensee database. Be sure to click the button for small loans (payday lenders).
DFI Radio Announcements
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2006 Payday Lending Commercial # 1 (MP3: 933 KB)
In September 2006, DFI launched a six-week payday lending radio campaign on four radio stations serving African American communities in Seattle, Tacoma, and Portland. The educational announcement features Lacey Steel. Mr. Steel served 26-years as the president of the Seattle-branch of the NAACP. He currently serves on the National NAACP Board. -
2006 Payday Lending Commercial # 2 (MP3: 548 KB)
Also in 2006, radio stations broadcasted an educational announcement primarily for our Spanish-speaking population. -
2004 Payday Lending Commercial (MP3 1.13 MB)
In 2004, radio stations across the state broadcasted this educational announcement.
Information and Assistance from DFI
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File a Payday Loan Complaint
Payday lending complaints are handled by DFI's Division of Consumer Services. -
Thinking of a Payday Loan?
En Espaņol
Information for individuals who are considering a payday loan. -
Payday Loan Brochure (PDF)*
Free brochure for those considering a payday loan. -
2006 Payday Lending Report (PDF)*
The 2006 Payday Lending Report published by DFI. -
2005 Payday Lending Report (PDF)*
The 2005 Payday Lending Report published by DFI. -
2004 Payday Lending Report (PDF)*
The 2004 Payday Lending Report published by DFI. -
2003 Payday Lending Report (PDF)*
The 2003 Payday Lending Report published by DFI.
Other Resources
* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.
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