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A handful of credit unions in Colorado found themselves in hot water this year. As CU Times reported, they agreed to settlements totaling $6 million for failing to return GAP fees to members.

Per the article, “Colorado law requires that the lender automatically refund borrowers any unearned GAP payments.” The state attorney general strongly pursues these consumer protection cases. However, credit unions not serving the Centennial State need to be on alert as well.

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