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Colorado Revised Statutes Title 5. Consumer Credit Code § 5-18-117. Violations

Current as of January 01, 2025 | Updated by Findlaw Staff

(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 5-18-112 or 5-18-112.5, or for each inaccurate or unblocked entry in the consumer's or protected consumer's file that was disputed or alleged to be unauthorized in accordance with section 5-18-111 by the consumer, protected consumer, or protected consumer's representative, plus reasonable attorney fees and costs.

(2)(a) A consumer reporting agency that negligently violates this article 18 or the federal “Fair Credit Reporting Act”, 15 U.S.C. sec. 1681c, as amended, is liable for the greater of actual damages or one thousand dollars for each violation of section 5-18-112 or 5-18-112.5, or for each inaccurate or unblocked entry in the consumer's or protected consumer's file that was disputed or alleged by the consumer, protected consumer, or protected consumer's representative to be unauthorized in accordance with section 5-18-111, that affects the consumer's or protected consumer's creditworthiness, as defined in section 5-18-103(6), plus reasonable attorney fees and costs if:

(I) Within thirty days after receiving notice of dispute from a consumer, protected consumer, or protected consumer's representative in accordance with section 5-18-110, the consumer reporting agency does not:

(A) Correct the complained of items or activities; and

(B) Send the consumer, protected consumer, or protected consumer's representative and, upon request of the consumer, protected consumer, or protected consumer's representative, any person who has requested the consumer information, written notification of the corrective action, in accordance with section 5-18-110(6), 5-18-112, or 5-18-112.5; or

(II) Within thirty days after receiving a copy of a police report alleging, or a certified court order finding, unauthorized activity, the consumer reporting agency does not block the information in accordance with section 5-18-111.

(b) A consumer reporting agency that negligently violates this article 18 or the federal “Fair Credit Reporting Act”, 15 U.S.C. sec. 1681c, as amended, is liable for the greater of actual damages or one thousand dollars for all violations of section 5-18-112 or 5-18-112.5 or all inaccurate or unblocked entries in the consumer's or protected consumer's file that were disputed or alleged by the consumer, protected consumer, or protected consumer's representative to be unauthorized in accordance with section 5-18-111, 5-18-112, or 5-18-112.5 and that did not affect the consumer's or protected consumer's creditworthiness, plus reasonable attorney fees and costs if:

(I) Within thirty days after receiving notice of dispute from a consumer, protected consumer, or protected consumer's representative in accordance with section 5-18-110, the consumer reporting agency does not:

(A) Correct the complained of items or activities; and

(B) Send to the consumer, protected consumer, or protected consumer's representative and, if requested by the consumer, protected consumer, or protected consumer's representative, to any person who has requested the consumer information, written notification of the corrective action, in accordance with section 5-18-110(6), 5-18-112, or 5-18-112.5; or

(II) Within thirty days after receiving a copy of a police report alleging, or a certified court order finding, unauthorized activity, the consumer reporting agency does not block the information in accordance with section 5-18-111.

(3) In addition to the damages assessed under subsections (1) and (2) of this section, if, ten days after the entry of any judgment for damages, the consumer's or protected consumer's file is still not corrected, blocked, or frozen by the consumer reporting agency, the assessed damages shall be increased to one thousand dollars per day per unfrozen consumer report or record or inaccurate or unblocked entry that remains in the consumer's or protected consumer's file until the inaccurate entry is corrected or blocked, or the consumer report or record is frozen.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 5. Consumer Credit Code § 5-18-117. Violations - last updated January 01, 2025 | https://codes.findlaw.com/co/title-5-consumer-credit-code/co-rev-st-sect-5-18-117/

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