Limitations on Payday Loans
Colorado Ballot Measure - Proposition 111
Election: Nov. 6, 2018 (General)
Categories:Finance and Banking
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.
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 ( )