Payday Pundit

Could be another legislative battle in Colorado next year according to the Rocky Mountain News:
Payday lending increased by only 1 percent in Colorado last year, but state officials say they still are worried by continued high interest rates, an increase in borrower bankruptcies and consumer debt dependency.
That’s quite a sentence.   Do these consumers that officials […]

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Rocky Mountain News: Payday loan bill languishes due to Veiga amendment
A legislative attempt to place restrictions on the state’s payday lending industry appears dead as the bill languishes in a Senate committee.
House Bill 1310 sought to restrict or eliminate most of the fees and set a maximum interest rate on payday loans. Backers of the […]

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The rally in Denver not only drew lots of people, but lots of media coverage as well.   Here’s just a few of the stories.    Colorado Springs Gazette, Channel 7, and Rocky Mountain News.

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Payday lenders, employees and customers are testifying before the Colorado legislature in an effort to keep their livelihood and consumer finance options intact in the face of special interest groups that want to destroy the payday advance industry.  Some of the key points brought out in this Rocky Mountain News item include: 
          “Employees expressed concern […]

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The Payday Pundit woke up to a nice editorial in the Rocky Mountain News , Payday Loan Overkill, urging the legislature to oppose restrictive legislation that could put the industry out of business in the state.  The money quote:
“As we said in November, for some residents who don’t have access to other forms of credit, or ready […]

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