Colorado § 5-18-109 - Reporting of information prohibited - exceptions - repeal.

§ 5-18-109. Reporting of information prohibited - exceptions - repeal.

(1) Except as authorized under subsection (2) of this section, a consumer reporting agency shall not make any consumer report containing any of the following items of information:

(a) Cases under title 11 of the United States Code, or under the federal bankruptcy act that, from the date of entry of the order for relief or the date of adjudication, predate the report by more than ten years;

(b) Suits and judgments that, from the date of entry, predate the report by more than seven years or by more than the governing statute of limitations, whichever is the longer period;

(c) Paid tax liens that, from the date of payment, predate the report by more than seven years;

(d) Accounts placed for collection or charged to profit and loss that predate the report by more than seven years;

(e) Records of arrest, indictment, or conviction of a crime that, from the date of disposition, release, or parole, predate the report by more than seven years;

(e.5) Sealed records, expunged records, and records that did not result in a conviction;

(f) (I) Any adverse item of information that the consumer reporting agency knows or should know concerns medical debt.

(II) This subsection (1)(f) is repealed, effective July 1, 2028.

(g) Any other adverse item of information that predates the report by more than seven years.

(2) The provisions of subsection (1) of this section do not apply to the case of any consumer report to be used in connection with a credit transaction involving, or that may reasonably be expected to involve, a principal amount that exceeds the national conforming loan limit value for a one-unit property as determined annually by the federal housing finance agency.

(3) A consumer reporting agency shall not furnish for employment purposes, or in connection with a credit or insurance transaction or a direct marketing transaction, a consumer report that contains medical information about a consumer unless the consumer consents to the furnishing of the report.

(4) A consumer reporting agency shall not include, in a consumer report made to a person requesting credit information pertaining to a consumer, the names of any other persons who have requested credit information pertaining to that consumer or the number of such inquiries made more than one year preceding the date of the consumer report; except that such information shall be retained for two years and provided to the consumer as provided in this article 18.

(5) Notwithstanding the provisions of subsection (4) of this section, a consumer reporting agency shall not furnish to any person, including a developer of credit scoring, a record of inquiries in connection with a credit or insurance transaction that is not initiated by the consumer. The term "credit or insurance transaction that is not initiated by the consumer" does not include inquiries resulting from the collection of an account or for purposes of reviewing an account.

(6) (a) The department of revenue shall contract with one or more entities to conduct a study to consider the impact of subsection (1)(f) of this section on consumers' creditworthiness, access to credit, medical debt burden, and economic stability, including consideration of the impacts of subsection (1)(f) of this section on persons of different racial groups and income levels. On or before January 1, 2028, the department of revenue shall deliver the conclusions of the study to the business affairs and labor committee of the house of representatives and the business, labor, and technology committee of the senate, or to any successor committees.

(b) This subsection (6) is repealed, effective July 1, 2028.

Source: L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1120, § 3, effective August 9. L. 2022: (1)(e.5) added and (2) amended, (SB 22-099), ch. 276, p. 1980, § 2, effective August 10. L. 2023: IP(1), (1)(f), and (2) amended and (1)(g) and (6) added, (HB 23-1126), ch. 374, p. 2239, § 2, effective August 7.

Editor's note: This section is similar to former § 12-14.3-105.3 as it existed prior to 2017.