small loan act
small-loan act. A state law fixing the maximum legal rate of interest and other terms on small, short-term loans by banks and finance companies. [Cases: Banks and Banking 181; Consumer Credit 3; Usury 42. C.J.S. Banks and Banking §§ 470, 680–681; Interest and Usury; Consumer Credit§§ 135–141, 143, 146, 152, 157, 280–293, 306.]