What Consumer Protections Apply?
State laws provide protections including mandatory contracts, disclosures, and redemption rights.
What must be disclosed?
Written contracts must state loan amount, interest rate, maturity date, redemption amount, and customer rights.
Can customers redeem after expiration?
Most states provide grace periods (30-60 days) with additional storage/late fees.
Are there limits on fees?
Many states cap storage fees, prohibit prepayment penalties, and limit late fees.