This action alert campaign has closed.
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Contact Your Representative and Ask Them to Vote YES on HB 1351
You can take action on this alert by reading the information below and following the
directions at the bottom.
Payday lenders should have an interest rate cap of 36% like everyone else!
Colorado Representatives will be voting on Payday Lending Reform THIS WEEK!
Currently, payday lenders do not have a cap on their interest rates (all other creditors have a cap at 36%) - and they charge interest rates as high as 521%
HB 1351 will cap payday loan interest rates at 36% to be at the same level as all other banks, credit unions and other creditors in the state.
We need you to contact your State Representative and urge them to vote YES on HB 1351!
Your message will be sent to each of the following targets:
Your State Representative
A sample message appears below, which you may edit before sending.
Please Vote YES on HB 1351
Dear Representative,
I am your constituent and a member of 9to5, National Association of Working Women. I am writing to urge you to vote YES on HB 1351.
Payday lenders should have the same interest cap as any other creditor in Colorado - 36%! It is outrageous to allow creditors to have a 300-500% interest rate, especially when most of their customers are low-income to begin with. Consumers of these products end up in a huge debt trap and end up paying hundreds or even thousands in fees for a few hundred dollar loan.
We all deserve better than this. Please support HB 1351 to stop predatory loans! Your name and address here
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This Action Alert Campaign is Closed.
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