Read a state rate cap without losing the exceptions

Define the covered transaction

State rules can distinguish loans by amount, term, security, purpose, provider license, and borrower location. Federal law or charter rules may affect which state limit applies. Fees may be included in one measure and excluded from another.

Start with the statute or regulator explanation in force on the transaction date. Secondary charts are discovery tools, not final authority.

• Transaction date
• Loan amount and term
• Provider type
• Included charges

Separate legality from affordability

A permitted rate does not establish that a product is suitable or affordable. Compare total repayment, payment timing, default charges, renewal behavior, and alternatives.

When the governing rule is unclear or a deadline is active, use a qualified local resource rather than guessing from a national summary.