Predatory Payday Lending in Colorado .Payday loans disproportionately affect susceptible Coloradans.
Described as high rates of interest and costs and quick repayment terms, pay day loans provide short-term loans of $500 or less. In Colorado, the term that is minimum half a year. Until recently, predatory payday lending in Colorado may have rates of interest of 45 per cent, plus origination and upkeep costs.
Protection from Pay Day Loans
The Bell Policy Center joined other consumer advocates to support Proposition 111 on the November 2018 ballot to cap payday lending rates and fees at 36 percent in an effort to curb predatory payday lending in Colorado.Detalles