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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.
Labor leaders came out swinging after Gov. Bill Ritter on Thursday vetoed a bill passed by fellow Democrats that would have allowed firefighters to bargain collectively in Colorado communities where voters have rejected the possibility. It's the second time in two weeks Ritter has crossed unions by vetoing a bill backed by Democrats.