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873F8D9732DED37B8725899E0065818C Hearing Summary


Date Apr 27, 2023      
Location Old Supreme Court

HB23-1162 - Referred to the Committee of the Whole - Consent Calendar

12:28:48 PM  
Senator Rodriguez
introduced House Bill 23-1162, concerning consumer lending.  The bill
permits the Department of Law to make rules regarding consumer legal funding
loan deferral charges. A consumer legal funding loan is an agreement between
a person with a pending legal claim and a company that offers the person
cash assistance in exchange for a percentage of the settlement or award.
12:29:24 PM  
Mr. Thomas Neville, representing the Colorado Trial Lawyers Association, testified in support of the bill.
12:34:16 PM  
Eric Schuller, representing the Alliance for Responsible Consumer Legal Funding, testified in support of the bill.
12:47:32 PM  
Senator Rodriguez made closing comments on the merits of the bill.

12:49:35 PM
Motion Refer House Bill 23-1162 to the Committee of the Whole and with a recommendation that it be placed on the consent calendar.
Moved Rodriguez
Baisley Yes
Coleman Yes
Ginal Yes
Hinrichsen Yes
Liston Yes
Sullivan Yes
Will Yes
Danielson Yes
Rodriguez Yes
Final YES: 9   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  PASS

The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details