Blueprint Brief 13: Protect Colorado consumers from predatory lending
Type:
Blueprint for Opportunity 2006
Published Date:
August 22, 2006
Author:
Spivey, Daniel
The Legislature should review Colorado???s current laws that regulate the payday lending industry and limit predatory mortgage lending. We should adopt stricter standards for payday lenders, including capping finance charges, prohibiting borrowing from one payday lender to pay off another, and eliminating special protections for payday lenders. Colorado also should adopt provisions to protect families that buy or refinance their homes.
