Nebraska Consumer Protections: Nebraska voters approved a 36% APR cap on payday loans in 2020, dramatically reducing high-cost lending in the state. The general usury cap is 16% for consumer loans. The Department of Banking and Finance regulates consumer lenders, and complaints can be filed with the Department or the Attorney General.
Interest Rate Cap: Nebraska usury cap: 36% APR cap on payday loans (Initiative 428, 2020); 16% general usury cap.
Payday lending is restricted (max $500).
Key Regulations: - Initiative 428 (2020) capped payday and similar short-term loans at 36% APR.
- The general usury cap is 16% for most consumer loans.
- Licensed delayed deposit services must comply with the 36% APR cap.
- The Nebraska Consumer Protection Act prohibits deceptive lending practices.
Federal protections: The FCRA gives you the right to dispute inaccurate credit report information for free. Credit repair companies cannot charge before performing services (Credit Repair Organizations Act).
Free resources: Get a free credit report annually at AnnualCreditReport.com.
File complaints with Nebraska Attorney General Consumer Protection Division.