There are currently no licensed payday lenders in the State of Montana.
A deferred deposit loan license is needed to engage in business as defined in the Montana Deferred Deposit Loan Act (Section 31-1-701, MCA). The Montana Deferred Deposit Loan Act was passed by the Montana State Legislature through House Bill 526 during the 1999 Regular Session. House Bill 526 provided for the licensure, examination and regulation of deferred deposit loan businesses operating in Montana. According to Montana statute, a deferred deposit lender may not charge an annual interest rate that exceeds 36%.