The federal government and every state have strict laws governing all lending including payday lenders. Most states require a lender to be licensed in that state to even operate. And most states have caps on both interest rates and fees that the lender can charge you. This protects consumers nationwide.
A cash advance loan, also known as a payday loan, is a type of loan that is taken out and paid back within a short period of time (31 days or less). This type of loan is typically used to cover emergency expenses until your next payday.