How to Compare Loans in Massachusetts
As seen in
Are Payday Lending Legal in Massachusetts?
Payday loans are prohibited in Massachusetts. Although technically, lenders may provide loans in the state but they have to be properly licensed and need to adhere to the 23% APR small loan cap.
Employee unions and labor laws are taken very seriously by the state’s authorities; to help combat the need for short-term payday loans, it is compulsory for employers to pay employees weekly or after a fortnight.
This ensures people don’t have to endure long periods of time without cash and rush to payday lending.