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 2017.
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 on a consumer’s credit worthiness, credit standing, credit capacity, debts, character, general reputation, personal characteristics, […]
As used in this article 18, unless the context otherwise requires: “Adverse action” includes: The denial of, increase in any charge for, or reduction in the amount of insurance for personal, family, or household purposes; The denial of employment or any other decision for employment purposes that adversely affects a current or prospective employee; and […]
A consumer reporting agency may furnish a consumer report only under the following circumstances: In response to an order of a court having jurisdiction to issue such an order; In accordance with the written instructions of the consumer to whom it relates; and To a person which the consumer reporting agency has reason to believe: […]
Whenever a consumer reporting agency prepares a consumer report, the agency shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the consumer about whom the report relates, including the use of the consumer’s social security number if, in accordance with section 5-18-104 (1)(c)(I), the consumer’s social security number is provided to […]
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 request pertaining to the consumer, including but not limited to: The […]
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 separate document, disclose to the consumer the following: […]
A consumer reporting agency shall not impose a charge for: A request for a copy of the consumer’s file made within sixty days after adverse action is taken; or Notifying any person designated by the consumer, pursuant to the applicable provisions of the federal “Fair Credit Reporting Act”, 15 U.S.C. sec. 1681i, as amended, of […]
Except as authorized under subsection (2) of this section, no consumer reporting agency shall make any consumer report containing any of the following items of information: Cases under title 11 of the United States Code, or under the federal bankruptcy act that, from the date of entry of the order for relief or the date […]
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 current status of the disputed information on or before thirty business […]
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 police report or a court order referenced in subsection (1)(a)(I) […]
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. Except as provided in subsections (6)(b) and (11) of this section, if a security freeze is in place, information from a consumer report may not be […]
A representative may place a security freeze on a protected consumer’s consumer report or record by: Submitting a written request to a consumer reporting agency in the manner prescribed by that agency; and Providing the consumer reporting agency with sufficient proof of authority and sufficient proof of identification of the representative. If a consumer reporting […]
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 security freeze on your consumer report […]
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 Obtain a Security Freeze for Their Children […]
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 after the change is posted to the consumer’s or […]
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: Acts only as a reseller of credit information by assembling and merging information contained in the database of another consumer reporting agency or multiple consumer reporting agencies; and Does not maintain a permanent […]
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 jurisdiction as provided by the federal “Fair Credit Reporting Act”, 15 U.S.C. sec. 1681 et seq., […]
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 5-18-112 or 5-18-112.5, or for each inaccurate or unblocked entry […]
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 subject to suit with respect to any […]
