Perhaps as early as Monday, Colorado
legislators can expect to see a bill to begin the process of reining in payday
loans. The bill will likely ask lawmakers to approve a referred measure that
would ask voters to apply the state's existing interest cap of 36 percent to
payday loans. Payday loans are now exempt from the state's usury law.
The Legislature should approve the
bill and let voters choose whether to end this predatory lending.
