Category Archives: Installment Online Loans

Fact check: Does Colorado legislation allow payday loan providers to charge over 200% interest on tiny loans?

A Colorado team campaigning to limit prices for whatever they call pay day loans claims that “current legislation permits payday loan providers to charge significantly more than 200% interest for little loans geared towards clients that are frequently in serious straits.” 1 The claim is in help of Proposition 111, a Colorado ballot measure to cap yearly finance costs at 36 % for small-dollar loans. 2

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