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Financial Services Law Insights and Observations

Colorado Banking and Financial Services commissioners provide guidance on Safer at Home orders

State Issues Covid-19 Colorado Financial Institutions Consumer Finance Overdraft ATM

State Issues

On May 15, the Colorado Banking and Financial Services commissioners provided additional guidance on the Safer at Home orders. The commissioners continue to encourage Colorado state-chartered financial institutions to work with affected borrowers and customers, and provide payment relief to consumers impacted by Covid-19. For example, financial institutions are encouraged to waive fees for services (e.g., overdraft fees, ATM fees) and provide accommodations such as eliminating minimum balance requirements on accounts and increasing daily withdrawal limits on ATMs.

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