Capping rates of interest at 36per cent is simply the Starting

Capping rates of interest at 36per cent is simply the Starting

In November 2018, Coloradans overwhelmingly voted for a step that is decisive economic empowerment, banning triple-digit pay day loan rates of interest, capping them at 36% APR (including charges). Nevertheless, pushing back once again on one predatory product does not suggest we have all safe, affordable use of banking and loans. We continue to have a two-tiered system where just some individuals have reasonable interest levels and lower banking expenses. That’s not adequate enough.

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