Colo. Rev. Stat. § 5-20-117

Current through Acts effective through 6/7/2024 of the 2024 Legislative Session

Section 5-20-117 - Civil actions by the administrator

The administrator may bring a civil action against a student loan servicer for any violation of this part 1. An action may relate to transactions with more than one person. The court may order a student loan servicer to refund to a person any charges collected in violation of this part 1 and may also assess civil penalties against the student loan servicer as set forth in section 5-20-112(2). If the administrator prevails in an action brought under this section, the administrator may recover reasonable costs in investigating and bringing the action and may recover reasonable attorney fees.

C.R.S. § 5-20-117

Amended by 2021 Ch. 378,§ 15, eff. 6/29/2021.

Added by 2019 Ch. 157,§ 2, eff. 8/2/2019.

L. 2019: Entire article added, (SB 19-002), ch. 1872, p. 1872, § 2, effective August 2.

Section 19 of chapter 378 (SB 21-057), Session Laws of Colorado 2021, provides that the act changing this section applies to conduct occurring on or after June 29, 2021, including collection of debts arising out of loans issued before June 29, 2021.