Deferred Deposit Lender

The Check Cashing and Deferred Deposit Lending Registration Act (“the Act”), Title 7, Chapter 23 of the Utah Code Annotated, regulates check cashers (those who cash checks for a fee) and deferred deposit lenders (those who extend payday loans).

Those who conduct deferred deposit lending activities are responsible for determining if they are subject to the Act and complying accordingly. You may find the Act by clicking the link below.

• Utah Code – Title 7, Chapter 23- Check Cashing and Deferred Deposit Lending Registration Act

Lenders subject to the Act must complete a Deferred Deposit Lender Registration (DDLR) through the Nationwide Multistate Licensing System (NMLS). To submit, change, renew, or surrender a DDLR, a lender must follow instructions on the appropriate NMLS Checklist.

To verify if a deferred deposit lender is registered in Utah, please visit nmlsconsumeraccess.org.

If you have questions about deferred deposit lending, please email us at msb.dfi@utah.gov or call 801-538-8830.