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Social justice groups offer the measure to cap interest and charges at 36 %

Social justice groups offer the measure to cap interest and charges at 36 %

Some loan providers say it can force them to shut.

It absolutely was a cool October morning together with Rev. Timothy Tyler ended up being preaching from a large part on Denver’s sixteenth Street Mall.

“It is time for folks of conscience to participate together to complete the proper thing, to start the entire process of lifting up people who cannot lift up themselves!” said the pastor from Shorter Community AME Church, their booming sound echoing down downtown Denver’s busiest concrete corridor.

About 20 individuals 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 measure that is statewide this November’s ballot seeks to restrict the full total interest and charges charged by payday loan providers to 36 %.…