873F8D9732DED37B8725899E0065818C Hearing Summary

PUBLIC
BILL SUMMARY For HB23-1162

SENATE COMMITTEE ON BUSINESS, LABOR, & TECHNOLOGY
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
	Seconded

	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

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

Colorado General Assembly