Thank you for bringing attention to the important topic of accessible credit for all Coloradans in the “Colorado Credit Access” opinion piece on April 9.

If it passes, Aurora Democratic state Rep. Mike Weisman’s bill (H.B. 24-1148) will have a devastating impact on the financial well-being of Coloradans across our state. Hardworking Coloradans will have far fewer credit options, and with a large number of residents already considered credit insecure, this would create significant challenges in accessing affordable credit products like personal and auto loans.

We simply cannot afford to pass another bill that would take away peace of mind and financial options for Coloradans during these uncertain economic times. Take the case of Brandon, who continues to face higher day-to-day costs just to make ends meet and was able to turn to a local lender for an affordable loan to get control of his finances and move forward in life. Or Bobby, who opted to purchase insurance that added protection when he wasn’t able to report to work due to a disability. The coverage helped him bridge the gap and regain financial footing during a difficult time.

Thousands of real people living in our communities rely on the credit options that this bill aims to make even more restrictive. Coloradans deserve more, and their financial choices should not be limited by their state legislators, particularly during these already uncertain economic times. Legislators must vote no on HB 24-1148.

John Euwema

Vice president – legislative and regulatory counsel

Consumer Credit Industry Association

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