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First shots fired in Colorado payday loan war

DENVER-- Perhaps no issue will underline the divide separating state Democrats and Republicans this legislative session as well as the war to rein in the payday loan industry. That war saw its first real skirmishes Monday at the capitol when roughly 150 payday-loan business owners and employees rallied outside the building in advance of a hearing on a bill that seeks to cap payday interest rates and limit the infamous cycle of personal payday-loan debt the industry depends upon to generate millions in profits.