CO AG John Suthers (R) Taking Campaign $ from Payday Lenders As He Is Crafting New Industry Laws!

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Sat Aug-14-10 07:33 PM
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CO AG John Suthers (R) Taking Campaign $ from Payday Lenders As He Is Crafting New Industry Laws!

http://www.gjsentinel.com/news/articles/firms_give_ag_money_as_he_rewr

Firms give AG money as he rewrites rules

By Charles Ashby
Friday, August 13, 2010

Colorado Attorney General John Suthers has accepted thousands of dollars in campaign contributions for his re-election bid from numerous payday lending companies at the same time his office is considering new regulations of the industry.

Those new rules, which have not been finalized, are required under a law that went into effect Wednesday. The law is designed to clamp down on exorbitantly high interests rates that payday loan companies were allowed to charge, sometimes as high as 500 percent a year.

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