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Colorado shows it is possible to reform payday financing in methods that benefit borrowers

Colorado shows it is possible to reform payday financing in methods that benefit borrowers A model for change? One state, Colorado, has gone to advance lengths to guard loan that is payday without stamping out of the training entirely. A 2010 legislation replaced two-week pay day loans with six-month installment loans capped at $500. The utmost permitted APR, at 45 per cent, is almost two-thirds less than the rate that is average regulations, while other costs are restricted. The measure has paid...

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