Deferred Deposit Lenders

STATUTES & RULES: Title 59 O.S. §§ 3101-3119 - Deferred Deposit Lender Licensing Act

Oklahoma Administrative Code: Title 160, Chapters 1, 3, 5 and 70 (Click link and select "VIEW CODE", then Title 160 Department of Consumer Credit)

DESCRIPTION:This license allows a 12 to 45 day loan up to $500 by accepting a dated instrument and agreeing to hold the instrument for a period of time.

TIME FRAME TO ISSUE:The approval process for this license may require up to 90 days to complete.

FEES:The fees for this license include a $700.00 investigation fee, $350.00 license fee and a $500.00 examination fee of books and records.

LICENSING PERIOD: Calendar year, all licenses expire December 31^st each year.

RENEWAL PERIOD: This license may be renewed by submitting renewal documents and fees by December 1^st each year.

PREREQUISITES: Completed application includes a current financial statement showing net assets of at least $25,000.

Letter Regarding Amended Veritec Transaction Re-open Request form

Deferred Deposit Lending Act Rate Chart

Sample Repayment Plan

Payday Lending Borrowers Rights

Deferred Deposit Loan - Notice of Cancellation Suggested Language

Oklahoma Trends in Deferred Deposit Lending - October 2010

2012 Annual Report (2011 Calendar Year)

2011 Annual Report (2010 Calendar Year)

2011 DDL Composite Annual Report (2010 Calendar Year)

2010 DDL Composite Annual Report (2009 Calendar Year)

2009 DDL Composite Annual Report (2008 Calendar year)

Oklahoma Department of Consumer Credit
3613 NW 56th Street, Suite 240
Oklahoma City, Oklahoma 73112-4512
Phone: (405) 521-3653 | Fax: (405) 521-6740
In-state Consumer Hotline: (800) 448-4904