Legal Status: Prohibited – Permitted for supervised lenders
Citation:
Maine’s UCCC applies. 9-A Me.Rev.Stat.Ann. 2-401. Supervised Lenders are exempt from 32 M.R.S.A. 6138(4)(D) which prohibits a check casher from cashing or advancing any money on a postdated check.
Small Loan Rate Cap
30% per year on amounts up to $2,000 or a fee of $5 for amounts financed up to $75; $15 for amounts financed $75.01-$249; or $25 for amounts financed of $250 or more.
Where to Complain, Get Information:
Regulator: Maine Office of Consumer Credit Regulation
Address: Department of Professional and Financial Regulation, 35 State House Station Augusta ME 04333
Phone: (207) 624-8527
Fax: (207) 582-7699
Me. Rev. Stat. Ann. tit. 9-A § 2-401; tit. 32 § 6138(4)(D)prohibits a check casher from cashing or advancing any money on a postdated check; 30% per year on amounts up to $2,000 or a fee of $5 for amounts financed up to $75; $15 for amounts financed $75.01 – $249; or $25 for amounts financed of $250 or more).
