Colorado banking regulator will not criticize “any” efforts to adjust loan terms

State Issues Covid-19 Colorado Bank Compliance Bank Charter Foreclosure Mortgages Consumer Lending

On April 8, the Colorado Division of Banking issued guidance to state-chartered banks encouraging them to take measures to assist borrowers impacted by Covid-19, including halting foreclosures and providing a 90 day deferment on payment for all consumer loans. The division noted that while state-chartered banks are not required to comply with these requests, any efforts to modify existing loan terms will not be subject to examiner criticism.