DENVER - It's toxic. That's the message consumer watchdog groups are sending on this "National Day of Action Against Payday Lenders."

After state legislation passed in 2010, payday-lending companies have had relatively tougher laws to follow in Colorado than in neighboring states. There's now a 45 percent cap on interest rates, and borrowers must be given at least six months to repay their loans.

Despite the revised laws, Caroline Casteel, an organizer with the Colorado Progressive Coalition, says the steps haven't stopped people from getting loans they can't afford.

"The data shows it's not quite enough," she says. "It's still a dangerous and unaffordable product. The default rate in 2013, according to the Attorney General's office, was 38 percent, which is still pretty high."

The payday lending industry has been vocal about serving people who don't need large enough amounts to borrow from banks, and advising them to use credit responsibly. But protests being held today are calling for stronger rules from the federal Consumer Financial Protection Bureau. Today's protest in Denver involves cordoning off a lender's storefront as a mock "hazardous waste site."

Another strategy is to raise kids who won't need payday loans as adults. Colorado schools have personal financial literacy expectations in social studies curriculum, but some high schools are amplifying the message - literally. A nonprofit called Funding the Future is promoting assemblies featuring the rock band GOODING.

The lead singer, also named "Gooding," says the music isn't about money - but it's a chance to get kids talking about it.

"We've been to a couple of schools in Denver where it's 80, 90 percent free and reduced [price] lunch," he says. "I have kids come up to me and say, 'I'm trying to save, but you know, my parents are struggling so much, they take my money.' The reason we're so heavy on high schools right now is we're touched by the response - we just cannot believe it."

Gooding says the show includes messages about the importance of self-reliance, planning for the future, and not buying into what he calls the "hype of overnight success" based on actors and athletes.

Sacha Millstone is senior vice president of investments at the financial advisory firm Raymond James, which sponsors similar concerts. She says payday loans tend to hurt those most economically vulnerable.

"The annual percentage rate of these loans is usually very high, 390 percent or more," she says. "Payday loans are currently regulated on a state-by-state basis, with some states allowing annual percentage rates of up to 1,400 percent. My view is regulation should protect all citizens and prohibit such predatory lending practices nationwide."

GOODING will visit more Colorado schools this spring, including Longmont High School in Longmont on April 2, Mead High School in Mead on April 3, and Arapahoe Ridge/Boulder Tech in Boulder on April 10.


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More than three in five Utahns believe the state is on the wrong track and their quality of life is worse today than it was five years ago.

A new report by the Utah Foundation paints a bleak picture about how Utah residents feel about their home state. Data in the report found the cost of living and government dysfunction were the most important issues for Utah voters in 2024.

Rep. Robert Spendlove, R-Sandy, an economist for Zions Bank, said there is growing political and economic disenfranchisement among Utahns.

"People just don't feel like they have the opportunities that they've had in the past," Spendlove explained. "The rate of inflation has come down in the last year, but the overall price increase remains. So overall prices are up about 20% in the last five years and so people are really struggling to adjust."

Spendlove observed Utahns are struggling to adjust to having to pay approximately 20% more on things such as housing, food, gas and even car insurance. He suspects prices are unlikely to come down and contended Utahns' income needs to go up but added it will take time.

The report's authors said the data is useful for state leaders to understand the needs of Utahns and get the state on the right track and improve quality of life.

Ahead of this year's election in November, the report found other issues relating to political dysfunction included voters feeling ignored by politicians, government overreach and partisan politics were at the top of the list.

Spendlove noted it is why he supports Utah Gov. Spencer Cox's call to "Disagree Better." He pointed out while the initiative aims to improve attitudes and behaviors across the political spectrum by incentivizing consensus building, he is unsure whether policy solutions at the state level are being discussed.

"One of the questions is, 'Do we revisit how people get to the ballot?' 'Do we lower the threshold on signature gathering?' 'Do we have different models of primaries?'" Spendlove outlined. "It is kind of early in that discussion, but I think it is a really important discussion that we need to be having."

The report found voters who participated in the survey expressed frustration in not feeling heard and contend elected officials pay too little attention to voters in favor of corporations, religious organizations or special-interest groups.


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Consumer groups are accusing major grocery retailers - like Amazon, Kroger and Walmart - of price gouging, both during and after the pandemic.

The allegation of corporate greed comes after a new report from the Federal Trade Commission found profits for grocery chains jumped sharply, at rates that could not be justified by supply chain disruptions.

Angela Huffman is president of the nonprofit Farm Action.

"It's one thing to raise your prices to cover higher expenses, but what these companies did is use the pandemic as an excuse to exploit the American people who needed to put food on their tables," said Huffman. "And the FTC report shows that they're still doing it, here in 2024."

The report found that retailer profits rose to 6% over total costs in 2021, and 7% in the first three quarters of 2023 - compared to 5.6% in 2015.

According to a report from Help Advisor, California households pay the highest grocery costs in the country, averaging almost $300 a week - about $27 more than the national average.

The Food Industry Association blames today's high prices on high labor costs and credit card payment fees.

Huffman said she thinks the feds should take anti-trust action to increase competition - and consider forcing the grocery behemoths to break up.

"That would be the ideal outcome is to take away their excessive power," said Huffman. "But other than that, these companies can be fined for this kind of price gouging. And that's another action we would support. There needs to be some kind of consequences."

The FTC staff report recommends "further inquiry by the commission and policymakers," but doesn't propose specific remedies.




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Air travelers could face fewer obstacles in securing a refund if their flight is canceled or changed under new federal rules announced Wednesday.

The moves are being praised by watchdog groups. The Department of Transportation said airlines are now required to promptly provide passengers with automatic cash refunds when they are owed one.

Teresa Murray, consumer watchdog director for the U.S. Public Interest Research Group, said some carriers have not adhered to standards, leaving passengers in a bind.

"They would drag their feet, and they would say, 'Well, you bought your ticket from a ticket agent, so we don't know where your money is. Or, here, have a voucher,'" Murray explained.

Amid higher complaint volumes, companies will be forced to act quickly. The new rules, which are being phased in, provide clearer definitions for travel disruptions, including delays of at least three hours on a domestic flight and six hours on international flights. A key industry group responded to the announcement by touting transparency efforts among carriers.

Murray acknowledged most people are not frequent flyers, and it is hard for them to keep up on all the least practices and policies among airlines.

"The average person only flies once every 18 months," Murray pointed out. "This will just bring transparency to that process and it kind of evens the playing field."

Murray added it could come in handy for Midwestern customers when a winter storm wreaks havoc on air travel. The new rules also require refunds for baggage fees when a piece of luggage is delayed by 12 hours or more for domestic flights. And there must be upfront disclosure on fees for first and second checked bags and carry-on bags.


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