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HB10-1351: Bill to Cap Payday Loan Rates Stalls in House

A bill to significantly limit interest rates on payday loans stalled in the House on Friday as Democratic supporters struggled to find enough votes to pass it, The Denver Post reports. House Bill 1351 would limit the interest on payday loans to no more than 36 percent as an annual percentage rate. Attempts to put new limits on payday lenders have failed in recent years amid bipartisan opposition. And as the debate wore on in the House on Friday afternoon, Democratic leaders agreed to table the bill as two of their members were absent from the chamber because of other commitments.

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