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No maximum loan amount in statute. The charge is capped at $30 or 20% of the principal per month, whichever is greater — but that figure is genuinely all-in.
W.S. 40-14-362 to 40-14-364 — Wyoming Uniform Consumer Credit Code
Wyoming statute does not limit the maximum amount for which a post-dated check may be written. What it does set is a maximum finance charge of $30, or 20 percent of the principal, whichever is greater — per month.Wyoming · Legislative researchWyoming Legislative Service Office research brief — statute does not limit the maximum amount for which the post-dated check may be written; however, statute provides for a maximum finance charge of $30, or 20 percent of the principal, whichever is greater
Twenty percent a month is roughly 240% a year, applied to a principal with no ceiling. Most states cap the loan and then cap the fee. Wyoming caps only the rate, and lets the size run.
The statute is explicit: the finance charge is the total amount that can be charged on any one transaction, regardless of whether it is designated as a fee or as interest.
That single clause does a lot of work. It is precisely the drafting that New Hampshire lacks, where $200 a year in application and membership fees sits outside the 36% cap. In Wyoming there is no second charge to add.
One calendar month maximum term.
Rollovers are prohibited under W.S. 40-14-364. You may not take a loan from one lender to repay another.
Rescission by the end of the next business day, without fees or penalties.
The Division has observed post-dated check arrangements advertised for amounts as high as $3,000 — which with charges becomes a check for around $3,600.
It states that lenders should have a reasonable expectation that a consumer writing a $3,600 check could pay that amount from their next paycheck after ordinary living expenses, and asks lenders to keep on file the information used to assess ability to repay.
That is guidance rather than a statutory cap. If you have been offered a four-figure post-dated check loan, ask what the lender relied on to conclude you could repay it in a month.
The National Consumer Law Center recorded that Wyoming repealed protections that had previously applied to loans at the high end of the rates it permits — that is, the loans where protection mattered most.
Read alongside Oklahoma and Mississippi: while four states were capping rates by ballot initiative, three legislatures were quietly going the other way.
You can revoke authorisation and instruct your bank to stop the payment, whatever your agreement says.
What Regulation E says about automatic payments →
A payday loan is a consumer debt. If it goes unpaid, two Wyoming rules decide what a lender can do next: how long it has to sue you, and how much of your pay a court can order taken.
Being sued over an old payday loan? A collector can still file, but the time limit is a defence you can raise — and you cannot be jailed for the debt. What can and cannot happen if you don’t pay →