§ 5-3.5-201 — Enforcement - liability

Colorado § 5-3.5-201

• Jurisdiction: Colorado
• Title 05: Consumer
• Art.: Consumer Equity Protection

Text

The attorney general and any obligor of a
covered loan may enforce this article with respect to such covered loan in the
manner provided for violations of the federal Home Ownership and Equity
Protection Act of 1994, 15 U.S.C. sec. 1639, and regulations adopted pursuant
thereto by the federal reserve board, including, without limitation, 12 CFR 226.32,
as set forth in the federal Truth in Lending Act, 15 U.S.C. sec. 1640, and
regulations adopted pursuant thereto by the federal reserve board, including the
provisions on civil liability, class actions, rescission, correction, and bona fide error.
Persons engaged in the purchase, sale, assignment, securitization, or servicing of
covered loans shall be liable under this article for the action or inaction of persons
originating such loans only in the manner and to the extent provided for violation of
the federal Home Ownership and Equity Protection Act of 1994 and the federal
Truth in Lending Act, 15 U.S.C. sec. 1641, and regulations adopted pursuant
thereto by the federal reserve board.

Legislative History

Source: L. 2002: Entire article added, p. 1600, � 1, effective June 7.