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Colorado passes 36% payday loan rate cap

CFPB Monitor

By an overwhelming vote (approximately 1,4270,000 million to 433,000), Colorado voters passed Proposition 111, a ballot initiative that places a 36 percent APR cap on payday loans. According to American Banker, the passage of Proposition 111 makes Colorado the fifth state to impose rate caps on payday loans through a voter referendum.

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JD Sports Purchases California-Based Shoe Palace

PYMNTS

Also, the Mersho Brothers, who operate Shoe Palace, have been issued equity in Genesis so that they will have 20 percent ownership of the enlarged group in the U.S. The chain currently has 167 retail locations, most of them operating under the Shoe Palace flag. 31, 2019, according to the announcement.

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Retail Reopening Precautions Spell The End Of ‘Walk-Ins’

PYMNTS

Retailers are opening their doors again during the pandemic to customers who have appointments. In Colorado, Blush Beauty Bar opened for appointments again, marking the first occasion that clients have been able to enter the business in nearly 50 days. Call it the end of the walk-ins. At least for now.

Retail 151
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Fabletics Announces Brick-and-Mortar Expansion

PYMNTS

Activewear brand Fabletics , which was co-founded by Kate Hudson in 2013, announced plans for a retail expansion across the U.S. The company confirmed that the new locations will bring the brand’s total retail store count to 30 locations throughout the U.S.

San Diego 190
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The Rise Of Organized — And Disorganized — Crime In Physical Retail

PYMNTS

What makes the story stand out among the reams of local retail crime reporting is that the crime was actually committed. Botched crimes in local retail are common. In Colorado last week, police managed to arrest the same man for three attempted car thefts — two of which happened on the same night on the same block.

Retail 147
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Colorado’s Marijuana Industry Tops $6B

PYMNTS

The Colorado Department of Revenue has revealed that the state’s regulated marijuana industry sales have topped $6 billion since sales began in 2014. Last year, regulated marijuana sales in Colorado were nearly $1.55 To date, marijuana tax, license and fee revenue totals for Colorado are over $927 million.

Industry 155
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VF Corporation Wraps Up Purchase Of Supreme

PYMNTS

The acquisition of the Supreme brand accelerates VF’s consumer-minded, retail-centric, hyper-digital business model transformation and builds on a long-standing relationship between Supreme and VF, with the Supreme brand being a regular collaborator with VF’s Vans, The North Face and Timberland brands,” VF said in the announcement.

Colorado 194