This is basically the one about short-term loans that don’t require criminal record checks.

Proposition 111 asks if Colorado should restrict loans that are payday control just what some characterize as predatory business practices.

Here’s the language you’ll see on your own ballot:

Proposition 111 proposes amending the Colorado statutes to:

Exactly just How can it work?

Presently, yearly portion prices (APRs) on payday advances in Colorado is often as high as 180 per cent. That features costs and interest, and prices generally increase throughout a loan’s lifespan. In 2016, typical APR prices for Coloradans were at https://personalloancolorado.com 129 %. Proposition 111 would restrict APR on payday advances to 36 %.

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