The states that currently prohibit payday lending are Arizona, Arkansas, Connecticut, Georgia, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Vermont, West Virginia, and the District of Columbia. High-cost payday lending is permitted by state laws or regulations in thirty-two states.Dec 5, 2020
According to the state law of Florida, payday lending is legal. Florida imposes a $500 amount limit on payday loans (not repayable in installments) offered in the state. One loan at a time is allowed. There is a cooling-off period of 24 hours between 2 consecutive loans.