Consumer lending is state-regulated
Personal installment lending in the United States is primarily regulated at the state level. Each state's department of financial institutions, department of banking, or similar agency licenses and supervises consumer lenders operating in that state. Personify Finance lending partners hold the appropriate licenses in every state where they originate loans.
How to verify a lender's state license
You can verify any U.S. consumer lender's state licensing status by:
- Visiting the NMLS Consumer Access website (Nationwide Multistate Licensing System)
- Searching by lender name
- Reviewing the list of states where the lender is licensed and the specific license numbers
You can also contact your state's financial regulator directly. A list of state regulators is maintained by the Conference of State Bank Supervisors (CSBS).
State rate caps and loan terms
Each state sets its own rules about maximum APR, maximum loan amount, maximum fees, minimum repayment term, and required disclosures for consumer installment loans. These vary significantly. Personify Finance's product offerings in each state reflect that state's legal framework — which is why loan amount ranges and APR ranges differ by state.
Federal law also applies
In addition to state law, Personify Finance lending partners are subject to federal consumer protection law including:
- Truth in Lending Act (TILA) — standardized APR and loan cost disclosures
- Equal Credit Opportunity Act (ECOA) — non-discrimination in credit
- Fair Credit Reporting Act (FCRA) — how credit information is used and reported
- Fair Debt Collection Practices Act (FDCPA) — collections conduct standards
- Military Lending Act (MLA) — enhanced protections for active-duty servicemembers and dependents
- Electronic Fund Transfer Act (EFTA) — ACH payment rules
- Gramm-Leach-Bliley Act (GLBA) — financial privacy
Where Personify Finance operates
For an up-to-date view of states where Personify Finance personal loans are available, see our States We Serve page. The simplest way to confirm Personify Finance availability for your situation is to check your rate — a soft-pull inquiry that doesn't affect your credit score.
Report a licensing concern
If you have concerns about Personify Finance licensing in your state, you can contact:
- Your state's department of financial institutions or banking regulator
- The Consumer Financial Protection Bureau at consumerfinance.gov/complaint
- Our editorial team through the contact form