Ritter signs drug bills, payday lending measure

By The AP
Tuesday, May 25, 2010

DENVER — New drug penalties and a crackdown on payday lending are among the bills signed into law today by Gov. Bill Ritter.

Among the bills signed into law are measures to reduce penalties for some drug possession crimes and put more emphasis on drug treatment. Not all drugs will see reduced penalties.

Ritter also signed a measure limiting payday loan interest rates to 45 percent annually. Currently they can run as high as 300 percent a year.