May 13, 2015 12:22 PM UTC

Veto the “loan shark giveaway,” Gov. Hickenlooper

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• by: ProgressNow Colorado

In the final hours of the legislative session last week, something bad happened.

Lobbyists for the subprime lending industry sneaked in a last-minute bill to allow huge interest rate increases on certain personal loans. The Colorado Attorney General’s office estimates that this legislation could mean increases of almost 40% to the total cost of a personal loan.

Send a message to Gov. Hickenlooper right now requesting a VETO of House Bill 15-1390.

There was no opportunity to properly debate this legislation–and that was by design. This bill to allow lenders to hike interest rates on personal loans was passed by both chambers in less than a week with almost no debate. Some lawmakers have already expressed regret over their rushed vote for this legislation. Passing bills that could cost thousands of Coloradans millions of dollars at the last minute with no debate is just plain wrong.

Tell Gov. Hickenlooper to VETO House Bill 15-1390, the “loan shark giveaway” bill. Your message will be delivered instantly to the Governor’s office.

Thanks for your timely assistance stopping this bad anti-consumer legislation. This time, the money saved could be your own.