Tag: payday

In the end, it came to the sort of calculation payday lenders might understand. After spending political capital fast and furiously in the last hours of the legislative session Wednesday, Colorado House Republicans seemed to accept that spending any more in the service of the payday loan industry would end in more loss than gain. They did the smart thing and just stopped spending altogether. They decided to withdraw the amendment they had attached to the annual rules bill on Tuesday that would have rolled back payday fee regulations put in place last year.

Annie Lowery, our Washington Independent colleague, writes today on the efforts of the Payday loan industry to stop U.S. Sen. Kay Hagan (D-N.C.) in...

DENVER-- Denver Democrat Mark Ferrandino's effort to rein in the payday loan industry came under heavy fire on the House floor Thursday by Democrats and Republicans who say they fear the regulations the bill would impose would destroy the payday loan industry and throw workers unto the unemployment rolls, a line of attack advanced defiantly by payday lobbyists here for weeks. On the floor today, more lawmakers thought the payday industry, which offers short-term loans characterized by high interest and fast-rising fees, should be regulated. Ferrandino's bloc prevailed by just one vote.