Maximum Outstanding Principal Balance for Deferred Presentment Transactions and Small Loans

LSA-R.S. 9:3578.4(D) was amended during the 2025 Regular Legislative Session to require the Louisiana Office of Financial Institutions (OFI) to publish annually a new maximum outstanding principal balance for a deferred presentment transaction, as defined in R.S. 9:3578.3(3) and for a small loan, as defined in R.S. 9:3578.3(7), on OFI’s website on or before September 1^st of each year.  The maximum outstanding principal balance is calculated by applying the 12-month increase or decrease in July of the United States Bureau of Labor Statistics Consumer Price Index for All Urban Consumers for the previous calendar year to the previous maximum principal balance and rounding the amount up to the nearest ten-dollar increment.