Industry Alerts

All Industry Alerts will be posted on this page. Please check periodically for new information.

Posted 4/15/2013

PDPA - The amendment to Banking Board PDPA 3 - List of Approved Eligible Collateral Instruments and Obligations, went into effect today. The amendment to the rule broadens the definition of acceptable quality of securities issued by a Federal Home Loan Bank that are approved as acceptable collateral for the purpose of PDP3, while continuing to preserve and protect public funds as required by Section 11-10.5-107, C.R.S.

Posted 10/28/2011

COMMERCIAL BANKS - Section 6-21-103, C.R.S. implementation - The statute requires financial institutions to offer eligible account holders the option to voluntarily sign a prior consent form, to be placed in the account holder's file, which waives the confidentiality of his/her financial records and authorizes the financial institution to alert the proper authorities of known or suspected financial exploitation of the account holder. The following document is to be made available to all eligible account holders. Click on form title to access document: Prior Consent to Release Financial Information

Posted 7/1/2010

MONEY TRANSMITTERS - HB10-1114 became effective July 1, 2010. Banking Board Rule MO3-Records was amended and Banking Board Rule MO8-Employee Notice was promulgated as emergency rules in response to the July 1 effective date. The forms can be accessed by clicking MO3 - Agent Information or MO8 - Employee Money Laundering Affirmation.

Posted 4/12/2010

Industry Advisory Bulletin - Placement of Public Funds into Sweep Account / Collateralizing Uninsured Public Deposits with Securities Acquired Pursuant to Repurchase Agreements

Posted 9/18/2008

Financial Institution Letter from FDIC: Statement on Investments in Fannie Mae and Freddie Mac Equity Securities

FIL-93-2008 September 18, 2008

Summary: The Federal Deposit Insurance Corporation (FDIC) will work with the limited number of institutions that have significant holdings of common or perpetual preferred shares in Fannie Mae and Freddie Mac to develop Capital Restoration Plans pursuant to federal regulations. These equity investments should be reported as available-for-sale equity securities, if not held for trading purposes, and any net unrealized losses should be deducted from regulatory capital.

Complete Financial Institution Letter: http://www.fdic.gov/news/news/financial/2008/fil08093.html

Posted 7/30/2008

Revised 8/20/2009 - Surcharge amount changed to 10 percent

House Bill 08-1216 amended Part 1 of article 24, C.R.S. by the addition of a new section 108 requiring that a 15 percent surcharge be added to fines collected under Titles 10, 11, 12, 40, and 42 C.R.S. The moneys collected are to be used by the Department of Regulatory Agencies for consumer outreach and education. The surcharge is applicable to all fines levied on and after August 8, 2008.

 Posted 2/14/2008

Please use the following link to access the Division of Real Estate Position Statetment: Applicability of Colorado Mortgage Broker Licensing Law to Employees and Exclusive Agents of Federal and State Financial Institutions.

Statutes referenced in Position Statement: Section 12-61-911, C.R.S. and Section 12-61-914, C.R.S.

Summary Statement: An individual employed by either a federal or state financial institution is required to comply with all of Colorado's mortgage laws. Covered employees are not required to be licensed by the Division of Real Estate and are not required to obtain Errors and Omissions insurance.