ORS 725A.064
Prohibited conduct for payday loan lender

A payday loan lender may not:

(1)

Make or renew a payday loan at a rate of interest that exceeds 36 percent per annum, excluding a one-time origination fee that the payday loan lender may charge for the loan.

(2)

Charge during the term of a payday loan, including all renewals of the loan, more than one origination fee of $10 per $100 of the loan amount or $30, whichever is less.

(3)

Make or renew a payday loan for a term of less than 31 days.

(4)

Charge a consumer a fee or interest other than a fee or interest described in subsection (1) or (2) of this section or in ORS 725A.060 (Prohibited conduct generally) (1)(c) or (d).

(5)

Include in a payday loan contract:

(a)

A hold-harmless clause;

(b)

A confession of judgment or other waiver of the right to notice and the opportunity to be heard in an action;

(c)

A provision in which the consumer agrees not to assert against the lender or a holder in due course a claim or defense arising out of the contract; or

(d)

An executory waiver or a limitation of exemption from attachment, execution or other process on real or personal property the consumer holds, owns or is due, unless the waiver or limitation applies only to property that is subject to a security interest executed in connection with the loan.

(6)

Renew an existing payday loan more than two times.

(7)

Make a new payday loan to a consumer within seven days after the date on which the consumer fully repays a previous payday loan. [2010 c.23 §21; 2019 c.188 §3]

Source: Section 725A.064 — Prohibited conduct for payday loan lender, https://www.­oregonlegislature.­gov/bills_laws/ors/ors725A.­html (accessed May 26, 2025).

725A.010
Definitions 725A.012
Application 725A.020
Licensing requirement 725A.022
License application 725A.024
License application approval 725A.026
Grounds for disapproving license application 725A.028
License fee 725A.030
Annual report 725A.032
Business name and location 725A.034
License revocation and suspension 725A.036
License reinstatement 725A.038
License surrender 725A.040
Effect of license revocation, suspension or surrender 725A.050
Director’s power to examine or investigate 725A.052
Record keeping requirements 725A.054
Duty to report defalcation 725A.056
Loan disclosure requirements 725A.058
Dissemination of false, misleading or deceptive statement 725A.060
Prohibited conduct generally 725A.062
Prohibited conduct for title loan lender 725A.064
Prohibited conduct for payday loan lender 725A.080
Complaint and administrative remedy 725A.082
Cease and desist order 725A.084
Suspension or removal of officer or director of licensee 725A.086
Limitation of personal liability 725A.090
Loan tracking and counseling system 725A.092
Rules 725A.500
Definitions 725A.503
Prohibition on servicing student loan without license 725A.506
Application for licensing 725A.509
Duties of licensee 725A.512
Requirement to maintain liquidity, operating reserves and tangible net worth 725A.515
Required notifications from licensee to director 725A.518
Supervisory powers of director 725A.521
Required practices under federal student loan agreement 725A.524
Investigation of complaints 725A.527
Violations 725A.530
Ombudsman 725A.990
Penalties

Current through early 2026

§ 725A.064. Prohibited conduct for payday loan lender's source at oregon​.gov