fedgazette

South Dakota Fringe Banking

Published October 1, 2000  |  October 2000 issue

Payday Loans Check Cashing Title Loans Pawnbroking
How Many?
There are at least 95 businesses offering one or more alternative financial service (payday or title loan, or check cashing), according to one state official. Of the number, at least 40 offer payday loans.
How Many?
There are at least 95 businesses offering one or more alternative financial service. Of this number, at least 23 offer check cashing.
How Many?
There are at least 95 businesses offering one or more alternative financial service. Of this number, at least 45 offer title loans.
How Many?
55, according to a national business-to-business marketing group.
Licensing:
Department of Commerce and Regulation
Licensing:
Department of Commerce and Regulation
Licensing:
Department of Commerce and Regulation
Licensing:
Municipalities
Fee caps:
No interest rate caps; all agreements must be in writing and agreed to by both parties.
Fee caps:
Unregulated
Fee caps:
No interest rate caps; all agreements must be in writing and agreed to by both parties.
Fee caps:
No interest rate caps; all agreements must be in writing and agreed to by both parties.

Sources: South Dakota Department of Commerce and Regulation;
American Business Lists

Return to: A helping hand, or new age loan sharking?

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