Consumer & commercial lending in Louisiana

Who needs this in Louisiana

A company that makes consumer loans to Louisiana residents generally needs a consumer loan / licensed-lender authority from Louisiana Office of Financial Institutions 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

File with OFI’s non-depository division. File in Louisiana 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