Maine · checked October 24, 2026

Payday loans in Maine: the rules and your way out

Typical payday loans not allowed

Maine has no separate payday statute. Payday loans may be made only by licensed supervised lenders within the Consumer Credit Code's general rate caps (30% a year on the first $2,000, or a minimum charge of $5 to $25), so typical payday fees are unlawful.

Law: Maine Consumer Credit Code, 9-A M.R.S. 1-301(28-A), 2-401, 2-701, 2-702. Title 9-A PDF generated Oct. 5, 2026, current through October 1, 2026 (changes through the Second Regular Session of the 132nd Legislature).

Maine's rules, line by line

Fee or rate cap: Actuarial finance charge of no more than 30% per year on the part of the unpaid balance that is $2,000 or less, 24% on the part from $2,000 to $4,000, and 18% above $4,000 (9-A M.R.S. 2-401(2)). Alternatively, a minimum charge of no more than $5 if $75 or less is financed, $15 if more than $75 but less than $250, or $25 if $250 or more (9-A M.R.S. 2-401(7)).
Other rights: 'Payday loan' is defined as a supervised loan or other credit transaction in which cash is advanced for the consumer's personal check or debit authorization with an agreement to defer deposit (9-A M.R.S. 1-301(28-A)). Anti-evasion rules since 2021: a person who holds the predominant economic interest or otherwise is the true lender is treated as the lender, notwithstanding rent-a-bank or agent structures (9-A M.R.S. 2-701, 2-702).

If you are behind on a payday loan in Maine

Check whether the loan was legal to make. Maine does not allow payday loans at typical payday prices. If a lender charged more than the state's limit, report it to the Maine Bureau of Consumer Credit Protection (Department of Professional and Financial Regulation) through its complaint page.
Stop the automatic withdrawals if they are emptying your account. You can revoke the lender's permission to debit your account and tell your bank. How to do it.
Look at a credit union payday alternative loan. Federal credit unions can lend $200 to $2,000 at much lower cost. How they work.
Talk to a nonprofit credit counselor. A counselor can look at all your bills, not just this one. How to find a real one.

Check a lender, or report one

Sources

9-A M.R.S. 2-401, Finance charge for consumer loans (Maine Legislature), read 2026-10-24
Maine Revised Statutes Title 9-A (full PDF, current through Oct. 1, 2026), read 2026-10-24
Maine BCCP Licensing & Registration ('Supervised Lenders (Including Payday Lenders ...)'), read 2026-10-24
Maine BCCP home page (Search For A Licensee; File A Complaint), read 2026-10-24

This page summarizes the law; it is not legal advice. Laws change, and the statute and regulator control. If something here is out of date, write to hello@paydayloan.help.