Credit card interest cap before Colorado lawmakers

Democrats want to see finance charges on credit cards from Colorado lenders capped at 12.5 percent, instead of the current 21 percent limit.

But their proposal faces long odds in a Republican committee.

Sen. Jessie Ulibarri of Commerce City is leading the effort to limit credit-card finance charges. The bill has its first hearing Monday afternoon in the Senate Business, Labor and Technology Committee.

Democrats are newly in the minority in the Senate and are bringing a series of proposals to rein in costs for the middle class. They’ve also proposed caps on college tuition hikes and student loan interest rates.

The tuition bill failed last week in a separate committee.