Colorado

Please be sure you have read

Please be sure you have read State-Law Rules the Affect Electronic Funds Transfers before proceeding. The introduction describes the limitations of the following summary.

Colorado banks are required to provide customers who use a “communication facility” with a receipt or record of each transaction initiated at the facility. Financial institutions are also required to have their periodic statements reflect transactions that were made at a communications facility during the statement period. Finally, customer liability for unauthorized use of an access device is limited to the lesser of $50 or the amount of money, goods, or services obtained by the unauthorized use prior to notice to the Colorado financial institution that issued the card or device of the theft or loss. If the unauthorized use occurs through no fault of the account holder, no liability may be imposed on the account holder. These rules can be found at Colorado Rev. Stat. 11-105-208 for banks and 11-48-106(2) for all other financial institutions.