Consumer Credit Regulation: Colo. Rev. Stat. §§ 5-3.1-101 to 5-3.1-123 (Deferred Deposit Loan Act).
What types of lenders does it apply to (e.g., banks vs. non-banks)? Applies to all persons who make or arrange deferred deposit loans (payday loans). § 5-3.1-102(5).
Licensure requirements and implications of licensure: Supervised lender’s license required to engage in business of deferred deposit loans. § 5-3.1-116.
Size and length of loans to which the statute applies, and any restrictions in the statute on these features: Loans for more than $500 prohibited. § 5-3.1-106. No maximum loan term, but minimum is six months. § 5-3.1-103.