Consumer Protection

News Release | CoPIRG | Consumer Protection

Coalition Turns In 188,045 Signatures to Cap Payday Loans in Colorado

Today, CoPIRG staff joined the other leaders of the Coloradans to Stop Predatory Payday Loans campaign to drop off 78 boxes containing 188,045 signatures at the Colorado Secretary of State’s office to cut and cap the interest rates and fees predatory payday lenders charge in Colorado. The number of valid signatures needed to qualify a statutory ballot measure for the November ballot is 98,000. 

News Release | CoPIRG | Consumer Protection

Over 180,000 Signatures Gathered to Rein in Payday Lenders

Today, CoPIRG stood with the leaders of the Coloradans to Stop Predatory Payday Loans campaign in front of an ACE Cash Express payday loan store to celebrate the campaign’s success in gathering over 180,000 signatures to qualify a ballot measure for the November 2018 election. Payday loans are small loans with extremely high APRs. For example, a Colorado payday loan borrower pays an average of $119 in fees and interest to borrow $392. That’s an average annual percentage rate (APR) of 129% but it can go as high as 215%.

ID Theft & Privacy Checklists

By | Mike Litt
Consumer Campaigns Director, U.S. PIRG

Today, we're releasing our revamped Identity Theft and Online Privacy resources.

News Release | U.S. PIRG | Consumer Protection

Congress Affirms Need to Stop Debt Trap; Mick Mulvaney Should Follow Suit

Here is our statement on Congress allowing the deadline to pass without repealing the Consumer Financial Protection Bureau's payday lending rule.

News Release | CoPIRG | Consumer Protection

Colorado Supreme Court Affirms Payday Lending Initiative Title

The Colorado Supreme Court ruled Friday against the payday lending industry challenge to keep Initiative 126 off the November ballot. Supporters of the measure, including CoPIRG, can now move forward with our effort to ask voters to approve a 36 percent interest rate cap. The average annual percentage rate for payday loans in Colorado is 129 percent with some APRs climbing above 200 percent. That means a Colorado borrower would pay $119 in fees and interest to borrow the average payday loan of $392.

News Release | CoPIRG | Consumer Protection

Victory: Gov Signs Credit Freeze for Minors Bill Into Law

Today, Governor Hickenlooper signed HB 1233 into law, which will give Colorado parents and guardians the authority to place credit freezes free of charge on the records of minors and individuals they legally represent starting January 1st, 2019.  

“HB 1233 allows parents and guardians to place a credit freeze for free on their dependent’s credit information, which is one of the most important actions you can take to stop identity thieves from using your child’s information to commit identity theft,” says Danny Katz, Director of the consumer advocacy group CoPIRG.

News Release | CoPIRG | Consumer Protection

Credit Freeze for Minors Bill Approved by House Committee

CoPIRG applauds the members of the Colorado House State, Veterans, and Military Affairs Committee who voted to approve HB 1233 and give Colorado parents and guardians the authority to place credit freezes on the records of minors and individuals they legally represent. 

News Release | CoPIRG | Consumer Protection

CoPIRG Calls for Passage of Credit Freeze for Minors Bill

CoPIRG is calling on members of the Colorado House State, Veterans, and Military Affairs Committee to approve HB 1233 today and give Colorado parents and guardians the authority to place credit freezes on the records of minors and individuals they legally represent. The bill is sponsored by Speaker Crisanta Duran (D) and Representative Polly Lawrence (R). It combines language from two previous bills that included Representative Kim Ransom (R) as a sponsor.

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