The condition of Utah have specific rules controlling pay day loan and you may loan providers. 15 claims enjoys effortlessly blocked cash advance. The fresh Utah Company out of Financial institutions enforces this type of legislation and you will performs an annual examination of for every https://safepaydayloanstoday.com/installment-loans-nc/ payday lender’s process. A 2016 legislative audit reported that Utah and you can Southern area Dakota had the fewest limits to the pay day loan providers in the united states.

A recent state declaration signifies that twenty five% of all of the Utah pay day loan areas finalized over good about three-season several months, off off 553 inside the 2015 so you’re able to 417 into the 2018.