Colorado payday loan limits measure passing early
Although Colorado Proposition 111, limiting payday loan rates, did not garner anywhere near the attention as some of the bigger statewide ballot initiatives, it does appear to be earning voter approval.
Proposition 111 places interest rate limits on payday loan services.
In Moffat County, 3,256 voters supported the proposition, while 1,881 voters did not, and roughly 77 percent of all Coloradans voted in support of the measure.
Currently, the industry adheres to a fee structure, which allows lenders to first charge an origination fee of up to 20 percent on the first $300 borrowed and an additional 7.5 percent on any amount over that.
Lenders could also charge customers a 45-percent interest rate per year, per loan.
Proposition 111 will do away with the current fee structure and instead implement a maximum annual percentage rate of 36 percent on the payday loan industry.
New school record, outdone expectations at state mark bright future for Moffat County track and field
With Saturday bringing with it a new team record, a competition that nearly didn’t happen, and a bet with some slippery stakes, never let it be said that Moffat County High School track and field athletes don’t make their season exciting right up until the very end.