Usury

Criminal Usury

Any person who knowingly charges, takes, or receives any money or other property as a loan finance charge where the charge exceeds an annual percentage rate of forty-five percent or the equivalent for a longer or shorter period commits the crime of criminal usury, which is a class 6 felony. (C.R.S. 18-15-104)

Maximum Interest

The parties to any bond, bill, promissory note, or other instrument may stipulate for the payment of greater than 8% interest rate, but not to exceed 45% per year.The rate of interest shall be deemed to be excessive only if it could have been determined at the time of the stipulation by mathematical computation that such rate would exceed an annual rate of 45%. (C.R.S. 5-12-103)

Federal preemption of usury laws and state overrides are provided for in C.R.S. 5-13.