Colorado

Despite Colorado law, some online loans carry 500%+ interest rate:

Published

10 months ago

March 14, 2025

Despite Colorado law, some online loans carry 500%+ interest rate:

When Tate Anderson’s daughter needed a loan for a couple thousand dollars to help buy a car in February, the Englewood woman went online and stumbled on a loan that her father couldn’t believe. It carried an interest rate of 581%.

“I can’t be everyone’s dad, but this can’t happen to people,” said Anderson. “It’s so awful.”

Anderson, who has been a mortgage broker for 30 years and is familiar with the lending world, thought it was illegal to charge that much interest in Colorado. His daughter signed up for a $2,000 loan with an online lender called WithU Loans. The payment schedule called for her to pay more than $800 per month for nine months amounting to $6,370.19 in interest and a 581% interest rate for her $2,000 loan, according to loan documents reviewed by CBS News Colorado.

“I was shocked, needless to say”, Anderson told CBS News Colorado.

“They get away with lending murder,” he said.

Anderson told his daughter “to call them and tell them to pound sand.”

How could a loan like that be offered in Colorado, where state laws have capped interest rates at less than 40% for years?

Anderson and his daughter didn’t know that WithU Loans was an online lender owned and operated by the Otoe-Missouria tribe of Indians, and Indian tribes in the U.S. are generally exempt from state laws that prohibit exorbitant interest rates. What they are doing is perfectly legal.

“This is something that is baked into our Constitutional system,” explained Colorado Attorney General Phil Weiser.

“If you are a tribe and acting as a tribal entity you aren’t subject to the regulations of the state,” said Weiser.

Tribal loans, as they are called, are exempt from state laws as native American tribes have tribal sovereignty, legal standing that makes them immune from state statutes.

“When tribes operate businesses,” said Weiser, “they are operating outside of Colorado law because of their sovereignty.”

While Anderson’s daughter only dealt with WithU Loans, tribal lenders have proliferated online, offering installment loans that one tribal lender calls “an expensive form of credit.”

A spokesperson for WithU loans provided a written statement about offering high interest loans in Colorado saying, “People turn to online lending when they can’t find the financial options they need locally, or because they prefer to do business online. The internet connects them to services — including those offered by Native American Tribes from Tribal Lands under Tribal law.” He said, “Our terms are clear…”

Dr. Katherine Spilde, a California-based professor who specializes in American Indian economic development, said tribal loans provide geographically isolated tribal nations with revenue needed for housing, education, health care and law enforcement. She said, “I do think it’s a win-win, especially when you think what the tribes are using it for.” Asked about the soaring interest rates, she said, “Online lending in general doesn’t create financial fragility, it reveals it. These consumers need help, they need a partner they can count on,” said Spilde.

The online review platform Trustpilot said 71% of WithU Loans reviewers gave the service a five star review while 18% gave it one star.

“The interest is so evil,” wrote one reviewer this month. “You are flat out robbing people who need help. You should be absolutely ashamed of your greed.”

The Better Business Bureau in Oklahoma City has given WithU Loans an F grade, with the BBB saying it has received 343 complaints against the lender.

In 2022, one Colorado resident filed a complaint with the federal Consumer Financial Protection bureau about an unnamed tribal lender. He said he took out a tribal loan that carried a 447% interest rate.

“If this is not predatory lending then I don’t know what is. Put a stop to this,” said the resident.

Weiser said consumers need to do their research.

“With so many online lenders, it’s tricky out there. It’s easy to go into a product without understanding it,” said Weiser. “Consumers have choices. They should think hard about what’s best for them.”

Tate Anderson said he was able to quickly intervene in his daughter’s case and cancel the loan.

“Because I’m not going to let anyone rip my daughter off,” said Anderson.

He said after cancelling her loan, he lent his daughter the money for her new car.

While Weiser indicated there is not much the state can do about tribal lenders themselves, in 2023, his office reached a settlement with a collection agency — TrueAccord — which was licensed in Colorado and had been collecting debt from Colorado consumers stemming from tribal loans they had defaulted on. The settlement agreement says from 2017 through 2022, TrueAccord collected or attempted to collect from 28,728 Colorado consumers who had defaulted on their tribal loans. Some of the loans had interest rates nearing 900%, according to the settlement agreement.

TrueAccord denied any allegations of wrongdoing but stopped collecting on tribal loans in Colorado and agreed to pay the state $500,000.

Brian Maass

Your Investigator Brian Maass has a reputation for breaking major stories at CBS News Colorado. He is a veteran reporter who has established a high level of trust and credibility in the community. Read his reports or check out his bio & send him an email.

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Colorado

Battle with the Blue Jackets | Colorado Avalanche

Published

12 hours ago

January 10, 2026

Press Room

Battle with the Blue Jackets | Colorado Avalanche

Columbus Blue Jackets (18-18-7) @ Colorado Avalanche (32-4-7)

2 p.m. MT | Ball Arena | Watch: Altitude, Altitude+ | Listen: Altitude Sports Radio (92.5 FM)

After a homestand-opening win on Thursday, the Avalanche hosts the Columbus Blue Jackets for Next Gen Night on Saturday. This is the second and final regular-season matchup between the teams in 2025-26, as the Avalanche defeated the Blue Jackets 4-1 in Columbus on October 16th.

A Big Night at Ball

Josh Manson recorded the first two-goal and four-point game of his career, along with a Gordie Howe hat trick, as the Avalanche defeated the Ottawa Senators 8-2 at Ball Arena on Thursday. Manson was one of five Avs to post at least three points on Thursday, alongside Nathan MacKinnon (1g/3a), Ross Colton (3a), Brock Nelson (2g/1a) and Cale Makar (1g/2a). Additionally, Brent Burns added a goal for Colorado while Scott Wedgewood stopped 29 of the 31 shots he faced in net for the Avs. With the victory, the Avalanche extended its home win streak to 16 games.

At 10:11 of the first period, Manson opened the scoring with his third goal of the season via a shot from the point through traffic. MacKinnon doubled Colorado’s lead at 17:14 of the first period with his 36th goal of the season via a shot from the slot set up by Necas. The Avs took a 3-0 lead at 2:35 of the second period when Makar scored his 13th tally of the season via a left-circle shot after receiving a drop pass from MacKinnon. At 5:08 of the middle frame, Shane Pinto put the Senators on the board. The Senators momentarily made it 3-2 with 13:41 remaining in the second period, but the goal was disallowed after the Avs successfully challenged for offside. After the disallowed tally, the clock was reset to 13:48.

Necas gave the Avs a 4-1 lead on the power play at 11:46 of the second period with his 20th goal of the season via a sharp-angle one-timer from the bottom of the left circle set up by MacKinnon. At 12:03 of the middle frame, Burns made it 5-1 with his sixth goal of the season via a right-point shot through traffic. Nelson gave the Avs a 6-1 lead on a five-on-three power play at 14:23 of the second period with his 20th goal of the season via a right-circle one-timer set up by MacKinnon’s cross-ice feed. The Avalanche took a 7-1 lead at 16:48 of the middle frame when Manson scored his second goal of the game and fourth of the season via a one-timer from the point set up by Jack Drury’s feed. At 18:04 of the middle frame, Nelson scored his second tally of the game and 21st of the season via a right-circle one-timer set up by Ilya Solovyov’s feed from the left point. Brady Tkachuk made it 8-2 with a shorthanded goal from the doorstep at 7:03 of the third period.

Leading the Way

Nate the Great

MacKinnon leads the NHL in goals (36) and points (78) while ranking tied for third in assists (42).

All Hail Cale

Makar leads NHL defensemen in points (51) and assists (38) while ranking third in goals by blueliners (13). Among all NHL skaters, he’s seventh in assists.

Marty Party

Necas is seventh in the NHL in points (55) and tied for ninth in assists (35).

Series History

In 70 previous regular-season games against the Blue Jackets, the Avalanche has a record of 45-19-1-5.

Defeat on the Road

The Blue Jackets lost 5-3 to the Vegas Golden Knights at T-Mobile Arena on Thursday. In the first period, Columbus took a 2-0 lead after goals from Boone Jenner at 8:24 and Kent Johnson at 10:41 before Reilly Smith put Vegas on the board at 12:20. The Golden Knights took a 4-2 lead after second-period goals from Smith at 5:19, Jack Eichel at 13:07 and Mark Stone on the power play at 18:44. Kirill Marchenko scored for the Blue Jackets to make it 4-3 at 14:28 of the third period before Brett Howden gave the Golden Knights a 5-3 lead at 16:14 of the final frame.

Contributors Against Columbus

MacKinnon has posted 26 points (7g/19a) in 22 games against the Blue Jackets.

In nine contests against Columbus, Makar has registered 17 points (6g/11a).

Necas has recorded 21 points (4g/17a) in 26 games against the Blue Jackets.

Producing Offense for Ohio’s Team

Zach Werenski leads the Blue Jackets in points (46) and assists (30) while ranking tied for first in goals (16).

Marchenko is tied for the team lead in goals (16) while ranking second in points (35) and tied for second in assists (19).

Dmitri Voronkov is third on the Blue Jackets in points (28) and goals (15).

A Numbers Game

30

Colorado’s 30 five-on-five goals since December 19th (10 games) are the most in the NHL during that span.

63

The Avalanche’s 63 second-period goals lead the NHL.

3.94

Colorado’s 3.94 goals per game since December 1st lead the NHL during that span.

Quote That Left a Mark

“It was fun. I don’t think he’s ever seen that before. He’s seen me fight. He’s maybe seen me score. But I don’t think he’s ever seen—actually, nobody’s ever seen that before out of me in the NHL. So, it was a first for everybody, including myself.”

— Josh Manson on recording a Gordie Howe hat trick with his father, former NHLer Dave Manson, in attendance

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Colorado

Colorado man heads to Washington, D.C., to gain support for Marshall Fire survivors

Published

24 hours ago

January 9, 2026

Press Room

Colorado man heads to Washington, D.C., to gain support for Marshall Fire survivors

Four years after the fire, recovery is still incomplete for some Marshall Fire victims. A Colorado man is joining wildfire survivors from across the country to push lawmakers to make changes and provide support for survivors still rebuilding.

Recently, a historic $640 million settlement was reached with Xcel Energy, but the Coloradans who lost everything in the Marshall Fire might not be receiving all the money that they’re owed. Some settlements could be taxed, while others were paid in full.

Benjamin Carter

“I was the fourth responding fire engine to the Marshall Fire. By the end of the night, I was triaging homes in the neighborhood that I grew up in,” said former firefighter Benjamin Carter. “I’ve seen how much the community’s hurting, and I just wanted to do whatever I could to help.”

Carter is now fighting for those who lost their homes, including his mother. He’s working with an organization called After the Fire, joining up with wildfire survivors in Oregon, Hawaii and California. This week, Carter flew to Washington, D.C., to speak with lawmakers about how they can help survivors rebuild.

In 2024, lawmakers passed the Federal Disaster Tax Relief Act, which exempted wildfire survivors from taxes on related settlements, among other tax relief. But the bill expired last week, shortly after Xcel agreed to settle over the Marshall Fire.

“If the people don’t have to pay taxes on the damages, then it helps them rebuild,” Carter explained. “Some of the smaller attorneys still haven’t received payment, so all those people will be subject to those taxes; all the attorney fees, and what the actual settlements end up being. And, of what they’re actually getting at the end of the day, that’s been a huge challenge.”

Congress has already proposed extension options. But Carter hopes that by sharing their stories, legislators will act before survivors lose anything else.

“With a lot going on in Washington and everything, the representatives don’t always know about all the issues. And so, we want to educate them on this issue and hopefully gain their support,” Carter said.

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Colorado

Boebert takes on Trump over Colorado water

Published

2 days ago

January 9, 2026

Press Room

Boebert takes on Trump over Colorado water

Congress failed Thursday to override President Donald Trump’s veto of a Colorado water project that has been in the works for over 60 years. It’s one of two back-to-back vetoes, the first of his second term. But Colorado Republican 4th Congressional District U.S. Rep. Lauren Boebert — known for her fierce MAGA loyalties — still […]

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