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Limitations on Payday Loans

Colorado Ballot Measure - Proposition 111

Election: Nov. 6, 2018 (General)

Outcome: Passed

Categories:

Finance and Banking

Summary


Proposition 111 proposes amending the Colorado statutes to:
* reduce the total cost for a payday loan to a 36 percent annual percentage rate; and
* expand what constitutes unfair or deceptive trade practices for payday lending.

Measure Text


Shall there be an amendment to the Colorado Revised Statutes concerning limitations on payday lenders, and, in connection therewith, reducing allowable charges on payday loans to an annual percentage rate of no more than thirty-six percent?

Yes ( ) No ( )

Resources


Official Summary

Source
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