Colorado Payday Loan Laws and Regulations in (CO)

(last updated 11/13/2019)
Payday loans and cash advances are legal in Colorado. The Colorado Office of the Attorney General has been regulating Payday Loans and Cash Advances since November 29, 2010. As of 09/12/2014 there were 260 licensed lenders and 773 licensed locations in Colorado.
The maximum payday loan allowed in Colorado is $500. The maximum payday loan as a percentage of income is not specified. The number of loans that can be open at one time is no limit if total debt does not exceed $500. The maximum permissible fees allowed in Colorado is 20% on $0-$300 plus 7.5% on $301-$500 plus 45% per annum interest plus monthly maintenance fee of $7.50 per $100 borrowed, up to $30 after first month. The cooling off or waiting period for obtaining another loan is 30 days days. The number of rollovers that are permitted is 1 renewal at 45% allowed. The minimum loan term is 6 months. The maximum loan term is not specified.
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in Colorado, no guarantees are implied or expressed about its accuracy. This is not legal advice. If you need legal advice, please consult an attorney or the Colorado Office of the Attorney General.
The following classes of lending organizations may be exempt from some, all, or none of the regulations set by the state of Colorado. Federally chartered banks, state chartered banks, credit unions and some entities organized under the laws of a sovereign nation (for example) a Native American Tribe or the country of Antigua.

Colorado Payday Lending Regulator (CO)

Regulating Authority
Colorado Office of the Attorney General
Ralph L. Carr Colorado Judicial Center
1300 Broadway, 10th Floor
Denver, CO 80203

Agency for Handling Complaints
Colorado Office of the Attorney General
Ralph L. Carr Colorado Judicial Center
1300 Broadway, 10th Floor
Denver , CO 80203


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