The Predatory Lending Landscape

The Predatory Lending Landscape

Predatory Lending Landscape

Following a passage through of Proposition 111, efficiently capping rates of interest and charges on pay day loans at 36 %, Colorado is getting into a brand new age. Our state has accompanied the ranks of 16 other states together with District of Columbia with either price caps or bans that are complete to get rid of individuals from entering a financial obligation trap through pay day loan products. Much more states prohibit shockingly interest that is high, individuals are spending less, finding better approaches to restricted cashflow, and are usually avoiding long-lasting monetary pitfalls like bankruptcy. While Colorado has made significant progress, it is important to perhaps not allow our guard straight down in this environment that is new. Read more