TITLE

Colorado's Payday-Loan Experiment May Foreshadow Nationwide Changes

AUTHOR(S)
Wack, Kevin
PUB. DATE
November 2014
SOURCE
Cujournal.com;11/ 7/2014, p4
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that the U.S. Consumer Financial Protection Bureau (CFPB) could use the implementation of the payday lending rules in Colorado as a basis for its proposed law on payday lending as of early November 2014. According to Pew Charitable Trusts' Alex Horowitz, the CFPB can look at the Colorado experience to foreshadow the effects of its proposed rule. It claims that when the law was signed by Colorado Governor Bill Ritter in 2010, the number of payday loans sharply declined.
ACCESSION #
99326914

 

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