Payday lenders are prohibited by West Virginia regulators from offering online payday loans to West Virginia residents. This means there are no West Virginia licensed or regulated payday lenders in West Virginia. Although The Payday Hound discourages it, West Virginia residents may be able to choose from tribal, out-of-state, or foreign-based lenders for online payday loans. See West Virginia Payday Loan Laws for links to West Virginia banking and finance regulators. These links will provide more information on the legal aspects of payday lending in West Virginia. In states where payday lending is permitted, lenders are licensed and regulated by the state.
Unlicensed payday lenders include tribe-based lenders, lenders licensed in other states, and foreign-based lenders. Tribal and out-of-state licensed payday lenders operate under the interpretation that they can export their tribe or state laws into West Virginia and are required to adhere to federal lending laws but not West Virginia regulations. Federal laws
may be less restrictive and less frequently enforced. The final group of lenders is foreign-based payday loan lenders. They export their countries' laws into West Virginia and are highly unregulated. See How to Choose A Payday Loan for more details.
The above is our understanding of how payday lending works in West Virginia, but we are not a law firm. Please contact the West Virginia Division of Financial Institutions for more information.
The Payday Hound reviews payday lenders and ranks them according to our Sniff Test (reputation), costs, and licensing. The list below includes both regulated banks as well as off-shore entites. Being included on our list is not an endorsement or certification. The list is a ranking and is designed to help borrowers rate and judge the quality of lenders. This means it may include lenders we believe to be honest as well as those we would deem to be predatory.
Category: Payday loans