In accordance with section 525 of the federal Depository Institutions Deregulation and Monetary Control Act of 1980, Pub.L. 96-221, the general assembly declares that the state of Colorado does not want the amendments to the Federal Deposit Insurance Act, 12 U.S.C. sec. 1811 et seq.; the federal National Housing Act, 12 U.S.C. sec. 1701 et seq.; and the Federal Credit Union Act, 12 U.S.C. sec. 1757, made by sections 521 to 523 of the federal Depository Institutions Deregulation and Monetary Control Act of 1980, Pub.L. 96-221, prescribing interest rates and preempting state interest rates to apply to consumer credit transactions in this state. The rates established in articles 1 to 9 of this title 5 control consumer credit transactions in this state.

Source: L. 2023: Entire section added, (HB 23-1229), ch. 375, p. 2245, § 3, effective July 1, 2024.

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