Compliance

Updates to Colorado’s Fair Debt Collection Practices Act

By Cornerstone SupportMay 17, 2017
 

On April 3 the Colorado General Assembly held a hearing and updates are coming to Colorado’s Fair Debt Collection Practices Act.

Here’s what you need to know:

  • Colorado is proposing to do away with its Collection Agency Board, replacing it with a set of requirements for a single administrator.
  • A recommendation was made to Continue the CFDCPA for 11 years, until 2028.
  • “Debt Buyers” are collection agencies per Colorado’s FDCPA.

While this is just Colorado, many states discuss policies with each other and what’s happening in Colorado could become popular elsewhere.

Read more from Inside ARM here.

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