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While Feds Loosen Payday Loan Regulations, Colorado Voters Clamp Down

Wednesday, November 7, 2018
Liz Farmer | Governing
Diane Standaert

Colorado voters have overwhelmingly opted for tighter regulations on payday lending, easily approving a proposal to cap interest rates on the short-term loans.

Colorado is now the 16th state, plus the District of Columbia, to limit  loan rates. “APRs of 200% are gone. Huge win for Colorado consumers!” tweeted Danny Katz, the director of the Colorado Public Interest Research Group on Tuesday night.