Colorado Now Shields Consumers From Predatory Lenders Charging Excessive Interest – Forbes Advisor forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
Colorado opts out of a federal banking law that allows payday lenders to bypass state safeguards. These lenders’ rent-a-bank schemes allow them to charge interest rates of 225% or more.