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Payday in Specific Countries
Payday lending looks very different depending on where you live. Rules, costs, and availability vary widely from one country to the next. This is Step 1 of 3 — we begin in two of the largest markets.
United States
Payday loans are widespread in the US, but regulation is set state by state. Some states cap fees or ban payday lending outright, while others allow it with few limits. As a result, the same loan can be cheap and tightly controlled in one state and very costly in another.
United Kingdom
The UK once had a booming, lightly regulated payday market. In 2015 the regulator introduced a strict price cap limiting daily interest and total costs, which dramatically reshaped the industry and pushed out many high-cost lenders, leaving a smaller and safer market.