Rhode Island’s deferred-deposit provision is scheduled for repeal on January 1, 2027. Until that date, it requires a signed agreement with fees expressed in dollars and APR, a deposit date at least 13 days after signing, and no collateral. If borrowing around the change, ask the state regulator which rules apply to the specific transaction.
Under the provision in effect through December 31, 2026, up to three checks may be outstanding with the licensee or its affiliates, with a combined face amount of $500 or less. The provision allows one rollover. Keep the written terms and dates if a provider requests another fee.
Rhode Island’s Department of Business Regulation handles banking and lender oversight and provides a consumer complaint process. Verify the check casher or lender through the Department’s license resources. If the agreement omits fees or the deposit date, or a provider proposes a second extension, retain the paperwork and contact the DBR Banking Division.
Official reference: Rhode Island General Laws § 19-14.4-5.1. Checked November 11, 2026.