Tag: payday loan

Demetrius Johnson had no savings, no job and nowhere else to go. So he went to a Speedy Cash in southeast Denver to get...

Denver Democratic Rep. Mark Ferrandino this morning told radio host David Sirota that Coloradans should demand state Republican Speaker of the House Frank McNulty strip out the last-minute amendment his caucus added to the annual rule-making bill in order to roll back payday loan fee regulations put in place last year. Ferrandino said Republicans were playing chicken with billions of dollars in Colorado business revenue just to cater to one special-interest group.

Attorney General John Suthers is not writing the new rules that will govern the payday loan industry in Colorado. That's why he is playing down the $10,000 in campaign donations he has received from the industry, saying the cash won't influence the final contours of the new state regulations. The person writing the rules, Laura Udis, has worked in the attorney general's department of consumer protection for more than two decades. She told the Colorado Independent that Suthers has so far not been involved in her work on the path-breaking payday legislation that was passed in the spring and that she expects Suthers to remain uninvolved.