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New payday loan rate cap goes into effect in Colorado

By Patrick G. Compton on February 4, 2019
Posted in Payday Lending, Regulatory and Enforcement

As discussed in an earlier post, on November 6, 2018, Colorado’s voters passed Proposition 111, seeking to limit interest rates and fees charged on payday loans in Colorado to an annualized percentage rate of thirty-six percent. Effective February 1, 2019, the proposition amends Colorado’s Deferred Deposit Loan Act (C.R.S.… Continue Reading

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