Title 5, Consumer Credit Code
0 chapters · 368 sections in this title.
Colo. Rev. Stat. § 5-18-101 Short title
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The short title of this article 18 is the Colorado Consumer Credit Reporting Act. Source: L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1114, � 3, effective August 9. Editor's note: This section is similar to former � 12-14.3-101 as it existed prior to…
Colo. Rev. Stat. § 5-18-102 Legislative declaration
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The general assembly finds and declares that the use of consumer reporting agencies is increasing rapidly as consumer credit transactions become the rule rather than the exception in every-day consumer purchasing. Consumer credit reports by consumer reporting agencies may report …
Colo. Rev. Stat. § 5-18-103 Definitions
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As used in this article 18, unless the context otherwise requires: (1) Adverse action includes: (a) The denial of, increase in any charge for, or reduction in the amount of insurance for personal, family, or household purposes; (b) The denial of employment or any other decision f…
Colo. Rev. Stat. § 5-18-104 Permissible purposes - prohibition
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(1) A consumer reporting agency may furnish a consumer report only under the following circumstances: (a) In response to an order of a court having jurisdiction to issue such an order; (b) In accordance with the written instructions of the consumer to whom it relates; and (c) To …
Colo. Rev. Stat. § 5-18-105 Consumer reports - accuracy of information
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Whenever a consumer reporting agency prepares a consumer report, including reports that include criminal justice records, the agency shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the consumer about whom the report relates, in…
Colo. Rev. Stat. § 5-18-106 Disclosures to consumers
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(1) A consumer reporting agency shall, upon written or verbal request and proper identification of any consumer, clearly, accurately, and in a manner that is understandable to the consumer, disclose to the consumer, in writing, all information in its files at the time of the requ…
Colo. Rev. Stat. § 5-18-107 Credit scoring related to the extension of credit secured by a dwelling - definition
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(1) In connection with an application for an extension of credit for a consumer purpose that is to be secured by a dwelling, the consumer reporting agency shall, upon the written request of the consumer, contained either in the application for an extension of credit or in a separ…
Colo. Rev. Stat. § 5-18-108 Charges for certain disclosures
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(1) A consumer reporting agency shall not impose a charge for: (a) A request for a copy of the consumer's file made within sixty days after adverse action is taken; or (b) Notifying any person designated by the consumer, pursuant to the applicable provisions of the federal Fair C…
Colo. Rev. Stat. § 5-18-109 Reporting of information prohibited - exceptions - repeal
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(1) Except as authorized under subsection (2) of this section, a consumer reporting agency shall not make any consumer report containing any of the following items of information: (a) Cases under title 11 of the United States Code, or under the federal bankruptcy act that, from t…
Colo. Rev. Stat. § 5-18-110 Procedure for disputed information
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(1) If the completeness or accuracy of any item of information contained in the consumer's file is disputed by the consumer and the consumer notifies the consumer reporting agency directly of the dispute, the agency shall reinvestigate the item free of charge and record the curre…
Colo. Rev. Stat. § 5-18-111 Consumer report information block
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(1) (a) A consumer reporting agency shall, within thirty days after the receipt of a police report or order pursuant to this subsection (1)(a), permanently block the reporting of any information that a consumer identifies on his or her consumer report as being subject to either a…
Colo. Rev. Stat. § 5-18-112 Security freeze - timing - covered entities - cost
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(1) (a) A consumer may elect to place a security freeze on his or her consumer report by making a request in writing by certified mail to a consumer reporting agency. (b) Except as provided in subsections (6)(b) and (11) of this section, if a security freeze is in place, informat…
Colo. Rev. Stat. § 5-18-112.5 Security freeze for protected consumers
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(1) A representative may place a security freeze on a protected consumer's consumer report or record by: (a) Submitting a written request to a consumer reporting agency in the manner prescribed by that agency; and (b) Providing the consumer reporting agency with sufficient proof …
Colo. Rev. Stat. § 5-18-113 Notice of rights
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(1) At any time that a consumer is required to receive a summary of rights required under section 609 of the federal Fair Credit Reporting Act or under state law, the following notice shall be included: State Consumers Have the Right to Obtain a Security Freeze You may obtain a s…
Colo. Rev. Stat. § 5-18-113.5 Notice of rights regarding protected consumers
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Whenever a consumer reporting agency is required to provide a summary of rights to a consumer under section 609 of the federal Fair Credit Reporting Act, 15 U.S.C. sec. 1681g, as amended, or under state law, the following notice must be included: State Consumers Have the Right to…
Colo. Rev. Stat. § 5-18-114 Security freeze - prohibition of changing official information in credit report or record
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If a security freeze is in place, a consumer reporting agency shall not change any of the following official information in a consumer report or record without sending a written notice of the change to the consumer or to a protected consumer’s representative within thirty days af…
Colo. Rev. Stat. § 5-18-115 Security freeze - exemptions
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(1) (a) Except as specified in subsection (1)(b) of this section, sections 5-18-112 to 5-18-114 do not apply to a consumer reporting agency that: (I) Acts only as a reseller of credit information by assembling and merging information contained in the database of another consumer …
Colo. Rev. Stat. § 5-18-116 Consumer's right to file action in court or arbitrate disputes
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(1) A consumer, protected consumer, or protected consumer's representative may bring an action to enforce any obligation a consumer reporting agency has to a consumer, protected consumer, or protected consumer's representative under this article 18 in any court of competent juris…
Colo. Rev. Stat. § 5-18-117 Violations
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(1) A consumer reporting agency that willfully violates this article 18 or the federal Fair Credit Reporting Act, 15 U.S.C. sec. 1681c, as amended, is liable for three times the amount of actual damages or one thousand dollars, whichever is greater, for a violation of section 5-1…
Colo. Rev. Stat. § 5-18-118 Provisions of article cumulative
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The provisions of this article 18 are cumulative, and any action taken under the provisions of this article 18 shall not constitute an election to take any such action to the exclusion of any other action authorized by law; except that a credit reporting agency shall not be subje…