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Without a doubt about Proposition 111 could crush lending that is payday Colorado

Without a doubt about Proposition 111 could crush lending that is payday Colorado

Social justice groups offer the measure to cap interest and charges at 36 per cent. Some loan providers state it might force them to close.

It absolutely was a cold October early early early morning and also the Rev. Timothy Tyler had been preaching from a large part on Denver’s Street that is 16th Mall.

“It is time for individuals of conscience to participate together doing just the right thing, to begin with the entire process of lifting up people who cannot lift up themselves!” stated the pastor from Shorter Community AME Church, their booming vocals echoing straight straight straight down downtown Denver’s busiest tangible corridor.

About 20 people were crowded around him – some dressed for worship, some putting on toothy “loan shark” headdresses – nodding in contract and chanting “Vote yes on Proposition 111!”

The statewide measure on this November’s ballot seeks to restrict the sum total interest and costs charged by payday loan providers to 36 per cent.

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