Louisiana Financial Snapshot

At nearly 19%, Louisiana has the second-highest poverty rate in the country, and this means that roughly a fifth of the state’s population lives in poverty.

Louisiana also ranks second for the level of hunger and food insecurity experienced by the state’s residents (nearly 16% of people in the state experience difficulty getting enough food and nutrition as a result of lack of money).

In the Bayou State, the median household income is just $47,905, whereas the average household income in the U.S. as a whole is $61,937. That means Louisiana residents make about $14,000 less than average Americans.

Payday loans are prevalent in Louisiana. Louisiana has nearly seven times more payday loan storefronts than McDonald’s restaurants.

How to Report a Lender in Louisiana

If borrowers have complaints about lenders in Louisiana, they can report them to the Louisiana Office of Financial Institutions. They have complaint forms that can be submitted via mail, fax, and email.

Louisiana Office of Financial Institutions

• Address: P.O. Box 94095 Baton Rouge LA 70804
• Phone: (225) 925-4660
• Fax: (225) 925-4548
• Website: http://www.ofi.state.la.us

Come back soon to check out these payday loan guides for the following cities in Louisiana:

Baton Rouge | Hammond | Shreveport | New Orleans