“The ruling by a two-to-one panel of the Tenth Circuit is just another step in the long legal process and while we are disappointed, we are not deterred. This is a step backward for financial inclusion, economic opportunity, and the basic principle of legal consistency. If allowed to stand, it will only perpetuate a patchwork of state regulations that limits access to affordable, innovative credit products.

“This decision puts Colorado consumers—especially low- and moderate-income families—at risk of being cut off from safe, regulated financial services at a time when they need them most. It also puts Colorado’s local banks at a disadvantage, making it harder to attract responsible fintech providers and stifling innovative partnerships that help community banks remain competitive.  

“The American Fintech Council remains committed to advocating for clear, consistent national standards that protect consumers and enable responsible innovation. We will both continue to litigate this case and work with Congress to reaffirm its original intent under DIDMCA to prevent states from creating barriers that weaken consumer protections and restrict financial access.”

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