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There has been a lot of reports out over the past few weeks about online payday loans, what are they, how are they regulated, how to get them, where they are legal, and many other questions regarding the short term loan industry. This wiki was created to help answer these questions as well as to keep people informed about what is going on with short term payday loans.

Some states are moving to ban or regulate them, as other states are taking a wait and see approach. The states don't want to shock one of the last easy loan options for people and some states are afraid that it will both hurt the industry by cutting jobs, as well as hurt those that they are loaning too by not providing them funds when they need it most. These two things can have a negative effect on a state so many are waiting to see how the states that are implementing regulations fair and if it will work or hurt them.
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