Consumer & commercial lending in Alabama

Who needs this in Alabama

A company that makes consumer loans to Alabama residents generally needs a consumer finance / small-loan license from State Banking Department of Alabama when the product, rate, or amount crosses the state’s trigger. Banks and credit unions lending under a charter are usually exempt. Commercial-purpose loans often sit outside the consumer statute — confirm before you treat a business loan as unlicensed.

Where to file

Apply through the Banking Department (Bureau of Loans) using its current NMLS or state checklist. File in Alabama because the borrower lives there, not because your office does.

Federal overlay

TILA / Regulation Z, ECOA, FCRA, and CFPB supervision sit on top of the state license. A state license does not create a federal charter.

Sources

• NMLS / CSBS state agency contacts