The Colorado Independent,2020
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Expressing concerns that loan sharks may become the new lenders for the poor, and saying they fear the loss of further jobs in a down economy, legislators Tuesday passed a bill to allow deferred deposit loan corporations to retain up-front fees.
DENVER-- A payday loan regulation bill that has been the subject of intense backroom battles for weeks made its way through the Colorado House today on a 32 to 30 vote. Opponents called the bill a "job killer." Supporters said constituents have been begging them to regulate the industry. Bill sponsor Rep. Mark Ferrandino, D-Denver, says it will face a similarly tough battle in the Senate where it will be debated in the coming days.
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.
DENVER-- The war to regulate payday loans in Colorado continues behind the scenes at the capitol here. Lobbyists and lawmakers are working hard to shore up votes for and against legislation introduced by Denver Democrats Rep. Mark Ferrandino and Sen. Chris Romer weeks ago. The bill is stalled for now as negotiations over proposed amendments continue. "We are working the bill hard," Ferrandino told the Colorado Independent. "And, as you know, the other side is definitely working it hard, too."
The Governor’s Office of Information Technology has won federal Recovery Act cash to up the speed limit on the information superhighway in the overdue...
Two laws go into effect tomorrow that provide tax breaks to businesses in order to promote job growth and future-looking clean-energy businesses. Tax cuts...
He had joy, he had fun - and then he got carted off to the pokey after pretending he was Terry Jacks, the one-hit...