Without a doubt about Colorado continues to have a payday financing problem

Saturday

a consensus among Coloradans that payday financing ended up being harming Colorado families prompted the legislature to pass through as well as the governor to signal a reform measure. The 2010 legislation paid down charges on these loans that are still-expensive needed lenders to offer clients 6 months to settle them. Regrettably, brand new data reveal that seven years later on, Colorado families continue steadily to get ensnared within an abusive period of and that this burden falls disproportionately on communities of color. Pueblo has around 12 loan that is payday, that is way too many for a residential area of our size. For this reason the NAACP Pueblo branch is targeted on this problem.

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