Dear Maine Consumers,
Maine Law and Payday Loans: 9-A M.R.S.A ยง2-201 (6)(c) Under Maine law, payday lenders may charge no more than $25.00 when the amount financed is $250.00 or more. Although $25 may seem like a small fee, it equates to a substantial APR if calculated for a one or two-week loan. ................
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