HB 1310: Concerning Deferred Deposit Loan Transactions (payday loans)

House Bill 1310 represents an opportunity gain for Colorado by reducing the costs of payday loans and extending the time allowed to repay them. This will address the current flaws in how these loans are currently structured and remove their predatory features. According to the Center for Responsible Lending, eliminating the predatory aspects of payday loans will put $76 million back into the pockets of Colorado payday borrowers.