CO HB1390

Increases the first tier finance charge threshold from $1,000 to $3,000 for supervised loans and consumer credit sales, maintaining the 36% per year rate on unpaid balances at or below this amount

Increases the second tier threshold from $3,000 to $5,000 for the 21% per year finance charge on unpaid balances exceeding the first tier threshold

Increases the third tier threshold from $3,000 to $5,000, applying the 15% per year finance charge to unpaid balances exceeding $5,000

Applies only to supervised loans and consumer credit sales, excluding revolving accounts and transactions using the actuarial method for calculating finance charges

Declares the act necessary for immediate preservation of public peace, health, and safety