Alaska state has introduced specific payday loan laws. 14 days is the minimum payday loan repayment term, while the maximum amount of loan allowed is $500. Fess and finance charges are 15% or the lesser of $15 per $100 loaned + $5 fee.

The Department of Community and Economic Development is allowed added authority over licensing and regulations of payday loan lenders and borrowers can cancel the cash advance at no charge by end of next business day. Tedious collection practices and the threat of criminal charges by the lender or third party collection agencies is prohibited as well as accepting collateral as a security (other than a check or similar negotiable instrument) for the cash loans; specific disclosures are defined that the lender must give out about terms and conditions of loan to borrower.