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Does Colorado legislation enable lenders that are payday charge over 200% interest on small loans?

A Colorado group campaigning to limit charges for whatever they call pay check loans claims that „current legislation allows lenders that are payday charge more than 200% interest for small loans intended for clients which can be often in severe straits.“ 1 The claim is in assistance of Proposition 111, a Colorado ballot measure to cap finance this is certainly yearly at 36 % for small money loans. 2

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