Consumers Affected
125
The Colorado Attorney General settled with Unlock Partnership Solutions, Inc., which marketed home equity agreements that were determined to be consumer credit transactions subject to Colorado's Uniform Consumer Credit Code and Consumer Equity Protection Act. The company must comply with lending laws, rate caps, disclosures, and licensing, and pay $283,375 in restitution to 125 consumers, with additional payments expected.
Unlock must comply with Colorado lending laws (UCCC and CEPA), including rate limits and disclosures, obtain required licenses, and pay restitution of $283,375 to 125 consumers, with additional payments as more loans close.
In-house legal teams should review vendor agreements with financial service providers offering home equity or alternative financing products. Key clauses to examine include: (1) compliance with state consumer lending laws (e.g., UCCC, CEPA), (2) interest rate caps and fee limitations, (3) disclosure obligations to consumers, (4) licensing requirements, and (5) indemnification for regulatory noncompliance. Additionally, customer-facing contracts should be audited to ensure they properly characterize transactions as credit or equity agreements and include required disclosures. Employee agreements related to sales or marketing of such products should also be reviewed for training and compliance obligations.
Entity
Unlock Partnership Solutions, Inc.
Industry
Financial ServicesOfficial Press Release
https://coag.gov/press-releases/unlock-partnership-solutions-agrees-to-comply-with-state-consumer-lending-laws-in-home-equity-agreements/
26.06.22 Unlock AOD fully executed
https://coag.gov/app/uploads/2026/06/26.06.22-Unlock-AOD-fully-executed.pdf
Colorado Attorney General Enforcement Page
https://coag.gov/
"Unlock Partnership Solutions, Inc."
"Unlock has identified $283,375 in restitution owed to 125 Colorado consumers"
"Colorado’s Uniform Consumer Credit Code"
"Colorado’s Consumer Equity Protection Act (CEPA)"
"the attorney general’s office determined that these agreements are consumer credit transactions under Colorado law and must comply with the Uniform Consumer Credit Code, including Colorado’s Consumer Equity Protection Act (CEPA), rate caps, required disclosures, and licensing obligations"
"Comply with Colorado lending laws under the UCCC, including the CEPA. Comply with UCCC rate limits. Provide disclosures required under the UCCC. Obtain all required Colorado licenses before resuming operations. Make restitution payments directly to consumers, with additional payments required as more loans close over time."
$945K
Minnesota Attorney General Keith Ellison filed a settlement with Unlock Partnership Solutions, Inc. over allegations that its 'home equity agreements' were actually unlawful mortgage loans that violated Minnesota's predatory interest rate caps and disclosure requirements. Unlock agreed to pay $944,626 in monetary and debt relief, cease lending unless licensed, and comply with Minnesota mortgage laws.
Colorado joined a coalition of states and local governments in suing the National Highway Traffic Safety Administration over its rule weakening fuel economy standards for new passenger cars and light trucks. The coalition alleges the rule violates federal law; the press release does not report a penalty or a court ruling.
$469.0M
Colorado joined a 43-state-and-territory settlement resolving allegations that Sandoz and Fougera participated in a long-running conspiracy to inflate generic drug prices, reduce competition, and restrain trade. The companies agreed to pay approximately $469 million and implement reforms; the states are seeking court approval.
Colorado Attorney General Phil Weiser joined a multistate and local coalition challenging the EPA’s repeal of greenhouse gas limits for many coal- and gas-fired power plants. The coalition seeks to have the repeal struck down and the protections restored, and separately notified the EPA of its intent to sue over regulation of emissions from existing gas plants; no penalty or final court remedy is reported.
$35.0M
Colorado, the FTC, and a coalition of state attorneys general reached a settlement with Corteva over allegations that its post-patent loyalty program restricted distributors from selling competing generic pesticides. Corteva must end the challenged conduct and pay the states $35 million for fees and costs; the agreement is in effect for 10 years.
$2.3M
Colorado and a bipartisan coalition of attorneys general reached a $2,287,455 settlement with Laboratory Corporation of America over the 2019 data breach at its debt collector, American Medical Collection Agency. The settlement requires stronger vendor risk management and information security practices, with particular requirements for medical debt collectors.