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Can you summarize CORS 5-2-213?
MAXIMUM FINANCE CHARGES AND OTHER FEES AND CHARGES > Lender and seller credit cards.
Short Summary
This legal document, found in the Colorado Revised Statutes under the Consumer Credit Code, pertains to lender and seller credit cards issued by credit card banks or financial institutions in Colorado. According to this document, the finance charge for these credit cards, calculated using the actuarial method, must not exceed the amounts provided in section 5-2-201. Additionally, fees for minimum finance charges, annual charges, cash advances, return or dishonor of a check, delinquency, or exceeding the credit limit may be established by written agreement between the parties. The document references various acts and regulations that allow credit card banks or financial institutions to export rates and fees. It is important to note that no specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Credit card banks or financial institutions in Colorado
What does it govern?
Lender and seller credit cards
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Colorado