Colorado § 5-13-106 Other loans - legislative declaration

Colorado Statutes

§ 5-13-106 — Other loans - legislative declaration

Colorado·Title 05 Consumer·Art. Federal Preemption of Usury

In accordance with section
525 of the federal Depository Institutions Deregulation and Monetary Control Act
of 1980, Pub.L. 96-221, the general assembly declares that the state of Colorado
does not want the amendments to the Federal Deposit Insurance Act, 12 U.S.C.
sec. 1811 et seq.; the federal National Housing Act, 12 U.S.C. sec. 1701 et seq.; and
the Federal Credit Union Act, 12 U.S.C. sec. 1757, made by sections 521 to 523 of
the federal Depository Institutions Deregulation and Monetary Control Act of
1980, Pub.L. 96-221, prescribing interest rates and preempting state interest rates
to apply to consumer credit transactions in this state. The rates established in
articles 1 to 9 of this title 5 control consumer credit transactions in this state.

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In accordance with section
525 of the federal Depository Institutions Deregulation and Monetary Control Act
of 1980, Pub.L. 96-221, the general assembly declares that the state of Colorado
does not want the amendments to the Federal Deposit Insurance Act, 12 U.S.C.
sec. 1811 et seq.; the federal National Housing Act, 12 U.S.C. sec. 1701 et seq.; and
the Federal Credit Union Act, 12 U.S.C. sec. 1757, made by sections 521 to 523 of
the federal Depository Institutions Deregulation and Monetary Control Act of
1980, Pub.L. 96-221, prescribing interest rates and preempting state interest rates
to apply to consumer credit transactions in this state. The rates established in
articles 1 to 9 of this title 5 control consumer credit transactions in this state.

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