Colorado will start oversight of fast-growing non-bank mortgage companies on Jan. 1
Non-bank lenders are already covered by federal regulations, but the new state law will allow the state to enforce a matching set of requirements. The companies will also have to pay fees to the states totaling about $126,000 per year for the entire industry.
The goal is to let lenders know that “there’s another set of eyes watching their conduct,” said Rep. Mike Weissman, an Aurora Democrat who sponsored the bill along with Sen. Julie Gonzales. “Where there are bad actors, we think that it’s important there are consequences,” he added.
As housing costs soar, Colorado leaders will push cities to get denser
“For a number of reasons, everything from just the pure cost of land to tap fees to the inefficiency one house at a time gets you, building taller and denser makes more sense in terms of the math of trying to finance these projects and actually make them happen,” said state Sen. Julie Gonzales, a Denver Democrat and vice chair of a legislative task force on affordable housing that is wrapping up its study now.
Colorado lawmakers announce plans to protect abortion access after SCOTUS hearing
Reproductive rights groups held a rally outside the state Capitol Wednesday to announce their work on the bill. Several speakers noted that if the Supreme Court upholds pre-viability limits on abortion, Colorado could become even more of a regional hub for the procedure.
Sen. Gonzales said the bill has been in the works since last summer, when Texas enacted a sweeping, first-of-its kind ban on abortions after six weeks.
“I heard from constituents who were asking me then, ‘I see what’s happening in Texas and I want to know, what is Colorado going to do?’” Gonzales said.
Two US States Drop 'Demeaning’ Terms for Immigrants
State Sen. Julie Gonzales, who co-sponsored the new Colorado law, said during a legislative committee hearing that words such as "illegal" were "dehumanizing and derogatory" when applied to immigrants. Gonzales said the legislation aimed to remove the only place in Colorado statute where "illegal alien" was used to describe people living in the U.S. illegally.
"That language has been offensive for many people," she said. "And some of the rationale behind that is really rooted in this idea that a person can certainly commit an illegal act, but no human being themselves is illegal."