Consumers Are Happy With Payday Loans

Deep customer satisfaction at both national and state levels

One important fact that often gets lost in the debate about payday loans is that the actual customers of payday loans are overwhelmingly satisfied with the service.


The Consumer Financial Protection Bureau (CFPB) is a federal agency solely focused on consumer financial protection. Over a three-year span from 2011 to 2014, the CFPB received 395,000+ consumer complaints about various financial services products.

Payday loans received among the fewest complaints:


The CFPB’s own findings confirm what the Utah Consumer Lending Association has experienced in Utah and other states where it operates: Consumers are happy with the product we provide.

Hundreds of thousands of cash advance transactions in Utah

Only 9 complaints filed for entire cash advance industry in Utah

(all resolved in a matter satisfactory to the DFI)


In Utah, borrowers repay a payday loan in full in 31 days, on average. In instances where borrowers’ loans extend past 70 days, they are enrolled in an interest-free payment plan, allowing them to:

Pay down any remaining balance on a loan over two months with:

No Penalties

No Additional Fees

No Collection Activities

No Additional Interest

Only payday loans allow borrowers to pay off a loan interest-free after the duration of the loan—no bank, credit card provider or credit union affords such an opportunity.

Utah’s approach to the Extended Payment Plan has become a model for other states and is leading the national charge in consumer protection.