article thumbnail

Debt Management Company to Pay $110k in Refunds to Customers under Agreement with Colorado Attorney General’s Office

CFPB Monitor

Colorado Attorney General Phil Weiser announced a recent agreement between Florida-based debt management company Touchstone Partners, Inc. and the Colorado Department of Law in resolution of Touchstone’s violations of the Colorado Debt Management Services Act (DMSA).

article thumbnail

Colorado opt-out signed into law, effects to be seen

CFPB Monitor

As anticipated, on June 5, 2023, Colorado Governor Jared Polis signed into law Colorado HB23-1229 , which will exclude consumer loans made in Colorado from the provisions of Section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDA) (codified at 12 U.S.C.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Colorado is mapping a dangerous path on access to credit

American Banker

A new law will make Colorado a much more difficult place for cash-strapped citizens to get credit. Other states should avoid following in its footsteps.

article thumbnail

Bitcoin Daily: Bitcoin Price Rises Above $12K For 30 Minutes; Colorado Lottery Partners With Chainlink For Contest

PYMNTS

The Colorado Lottery is partnering with Chainlink and ETHDenver for a new contest “to create new Lottery games that will excite and entertain a new, broad and diverse group of Coloradans to engage them in supporting the great outdoors and schools,” a press release says.

Colorado 245
article thumbnail

Credit unions settle GAP fee refund cases with Colorado Attorney General

CFPB Monitor

On January 4, 2023, Colorado Attorney General Phil Weiser announced settlements with two state-chartered credit unions, Bellco Credit Union (“Bellco”) and Canvas Credit Union (“Canvas”), over Guaranteed Automobile Protection (commonly referred to as Guaranteed Asset Protection, or “GAP”) refunds.

article thumbnail

Colorado Just Elected a Tech-Savvy Governor Who Takes Blockchain Seriously

Bank Innovation

Amid a dizzying night of political drama, a bright spot appeared for the fintech and cryptocurrency communities -- the election of Jared Polis to Governor of Colorado. Polis is known for many things, such as being the first openly gay state governor ever elected and a dot-com millionaire to the tune of $400 million, but […].

Colorado 170
article thumbnail

Colorado Attorney General enters into settlements with credit unions requiring refunds of GAP fees

CFPB Monitor

The GAP coverage in question was purchased by Colorado consumers who had entered into retail installment contracts (RICs) with auto dealers. Ballard Spahr attorneys have significant experience in dealing with the Colorado AG in matters involving these issues. . . The credit unions disputed that they had violated the CCPA.