24 Jul Predatory Payday Lending in Colorado. Described as high interest levels…
Described as high interest levels and charges and payment that is short, payday advances provide short-term loans of $500 or less. In Colorado, the term that is minimum 6 months. Until recently, predatory payday lending in Colorado might have interest levels of 45 per cent, plus origination and upkeep charges.
Defense against 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.