ABA JOURNAL-
The Colorado Court of Appeals has overturned a $119,500 civil penalty imposed against a foreclosure law firm accused of violating consumer fraud laws by failing to disclose an ownership interest in a side business.
Judge Morris Hoffman of Denver had imposed the penalty against the Castle Law Group for failing to tell Fannie Mae and Freddie Mac about its interest in a company that posted notices on properties targeted for foreclosure.
But the court of appeals ruled Thursday that the judge erred because the alleged deceptive practice did not have a significant impact on consumers, the Denver Post reports.