Unlock Partnership Solutions Inc., dba Unlock Technologies, has agreed to treat its home equity agreements (HEAs) as consumer credit under Colorado law, pay restitution to affected homeowners, and meet state licensing and disclosure rules, the Colorado attorney general’s office announced June 24.

The office of Attorney General Phil Weiser said it determined Unlock’s products are consumer credit transactions that must comply with the state’s Uniform Consumer Credit Code — including the Colorado Consumer Equity Protection Act (CEPA), rate caps, mandatory disclosures and licensing obligations.

Unlock markets arrangements in which homeowners receive a details ⇒

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