Prop 111 Takes Down Predatory Lending

Denver News

Politicians and administrators looking to work in incoming Gov. Jared Polis’ Cabinet need to act fast. Nov. 27 is the deadline for Cabinet-level applications as Polis is set to take office Jan. 8. Proposition 111, which passed in Colorado during the 2018 midterm election, caps interest rates from Payday lenders at 36 percent. Currently the average payday lending loan in Colorado has an interest of 129%. The measure is already forcing some businesses to close. https://kdvr.com/2018/11/16/payday-lenders-starting-to-close-after-voters-limit-interest-rates/