Access Comprehensive State and Federal Statutes
This page offers detailed legal codes and statutes for Colorado, New Mexico, Wyoming, and applicable Federal laws, focusing on financial and credit regulations.
Colorado Statutes
Review Colorado’s legal framework governing financial and credit matters.
New Mexico Statutes
New Mexico does not currently have specific laws regulating credit service organizations. However, federal laws, such as CROA and the TSR still apply in this state.
Wyoming Statutes
Wyoming does not have specific state-level statutes governing credit repair organizations or credit services organizations. Instead, consumers and credit repair businesses operating in the state are governed entirely by federal law and general state consumer protection statutes.
Federal Statutes
Telephone Sales Rule
The Telemarketing Sales Rule (TSR) is a strict federal regulation enforced by the FTC that governs how Credit Repair Organizations (CROs) can market and bill for their services. For credit repair, it is most infamous for two major things: a strict ban on advance fees and severe restrictions on cold-calling/phone sales.
Credit Repair Organizations Act (CROA)
The primary federal law governing the credit repair industry is the Credit Repair Organizations Act (CROA) (15 U.S.C. §§ 1679-1679j). Enforced by the Federal Trade Commission (FTC), it protects consumers from deceptive practices by regulating how these organizations can operate, advertise, and collect