Official Government Website

Consumer Credit and Consumer Loan Section

The Idaho Credit Code regulates consumer credit - credit for personal, family, or household purposes. This includes extensions of credit through subordinate lien mortgage loans on residential real property. Credit extended for business, commercial, and agricultural purposes is usually exempt from the ICC, as are first mortgages loans. Payday and title lenders are required to comply with the ICC.

Creditors engaged in the business of making regulated consumer loans, or taking assignment of and undertaking direct collection of payments from debtors arising from regulated consumer loans, must obtain a regulated lenders license. Regulated lender licensees must file an annual license renewal and an annual report on or before May 31 of each year.

The following provides basic licensing information as detailed in the ICC:

A brief summary of licensee qualifications include the following:

  1. $350 license application fee, per location and per license type (regulated lender/payday lender).
  2. Completed application.
  3. $30,000 evidenced in liquid assets (regulated lenders) to be increased by additional sums of $5,000 (payday lenders) for each branch office located in Idaho, to a maximum of $75,000.
  4. Registration with the Idaho Secretary of State's Office, for the legal entity name and structure, as well as any d/b/a to be used in Idaho.

To obtain licensing and notification information for Consumer Credit, please call 208-332-8002.

"Fast Facts" About Payday and Title Lending in Idaho

2018 | 2017 |  2016 |  2015

Consumer Credit Section Online Resources: