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Colorado Is Not Any Model for the Nationwide Payday Rule

Colorado Is Not Any Model for the Nationwide Payday Rule Because the customer Financial Protection Bureau considers guidelines to safeguard consumers whom remove pay day loans, some observers are pointing to modifications that Colorado enacted this year as a model. Colorado’s cap on pay day loan interest levels restricted to 45% per 12 months has certainly paid down prices for borrowers. However with origination and month-to-month charges included, yearly portion prices are nevertheless into the triple digits. Loan providers also provide no requirement, and incentive…

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