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Colorado Revised Statutes Title 5. Consumer Credit Code § 5-2-213. Lender and seller credit cards

Current as of January 01, 2022 | Updated by FindLaw Staff

(1) For purposes of this section, “credit card bank or financial institution” means a commercial bank, credit union, thrift, savings and loan association, savings bank, or other state or federally supervised institution in this state that issues credit cards and may export rates and fees pursuant to the “National Bank Act”, 12 U.S.C. sec. 85, “Depository Institutions Deregulation and Monetary Control Act of 1980”, 12 U.S.C. secs. 1463, 1785, and 1831d, “Federal Credit Union Act”, 12 U.S.C. sec. 1757, or “Alternative Mortgage Transaction Parity Act of 1982”, 12 U.S.C. secs. 3801 to 3805, and any regulations under those acts.

(2) Notwithstanding any other provisions of this part 2, with respect to a lender or seller credit card issued by a credit card bank or financial institution:

(a) The finance charge, calculated according to the actuarial method, may not exceed the amounts provided in section 5-2-201;  and

(b) Any fees imposed for a minimum finance charge described in section 5-2-201(3)(b), annual charges described in section 5-2-202(1)(c), cash advances described in section 5-2-202(1)(e)(I), return or dishonor of a check described in section 5-2-202(1)(e)(II), delinquency described in section 5-2-203, or exceeding the credit limit may be in an amount established by written agreement of the parties.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 5. Consumer Credit Code § 5-2-213. Lender and seller credit cards - last updated January 01, 2022 | https://codes.findlaw.com/co/title-5-consumer-credit-code/co-rev-st-sect-5-2-213/

Read this complete Colorado Revised Statutes Title 5. Consumer Credit Code § 5-2-213. Lender and seller credit cards on Westlaw

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