On December 27, the Colorado Department of Law issued an advisory stating that consumers may not be obligated to pay finance charges on consumer credit transactions that are purchased, acquired, or otherwise assigned to retail credit sellers that have not filed applicable notifications required by the Colorado Uniform Consumer Credit Code (UCCC). According to the advisory, in these situations, entities may be “required to re-apply all payments so that the consumer is not assessed any finance charges and issue refunds to the consumer of any resulting credit balance.” The UCCC regulates the terms and conditions of consumer credit in the state, including payday loans, automobile loans, second mortgages, state-issued credit cards, and signature loans. A current list of retail credit sellers that have notifications on file with the office can be accessed here.