{ "jurisdiction_id": "US-CO", "jurisdiction": "United States – Colorado", "url": "https://payments.gi/jurisdictions/united-states-colorado/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-11", "schema_version": "world-payments-v1", "counts": { "modules": 14, "sourced_findings": 67, "source_register": 146 }, "modules": [ { "code": "W1a", "name": "Licensing, Authorisation & Market Access", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w1a-licensing-authorisation-market-access", "standing_position": "Colorado replaced its legacy Money Transmitters Act with the CSBS Model Money Transmission Modernization Act (MTMA) via HB25-1201 (enacted April 16-18, 2025; effective August 6, 2025 as Chapter 91, codified at Title 11, Article 110, C.R.S.), administered by the Colorado Banking Board and Division of Banking. The state adopted the model law's multistate licensing/supervision framework, revised definitions, and an agent-to-payee exemption, but excluded the MTMA's optional virtual-currency provisions.", "findings": [ { "finding": null, "instrument_type": "primary_statute", "source": "https://banking.colorado.gov/sites/banking/files/documents/HB25-1201_Update_to_Colorados_Money_Transmitter_Act.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "primary_statute", "source": "https://www.sheppard.com/insights/blogs/colorado-overhauls-money-transmission-law-to-align-with-multistate-licensing-standards", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "regulation", "source": "https://www.law.cornell.edu/regulations/colorado/title-3/agency-701/division-7", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "prudential_requirement", "source": "https://suretygroup.com/surety-bond/colorado-money-transmitter-bond/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "securities_exemption", "source": "https://leg.colorado.gov/bills/sb19-023", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "primary_statute", "source": "https://coag.gov/office-sections/consumer-protection/consumer-credit-unit/uniform-consumer-credit-code/", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W1b", "name": "Conduct, Safeguarding & Financial Promotions", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w1b-conduct-safeguarding-financial-promotions", "standing_position": "Colorado's money-transmission safeguarding regime relies on permissible-investment/surety-bond trust protection for payment-instrument holders, coupled with MTMA customer-protection provisions (timely forwarding, receipts, refunds, plain-language disclosure) and mandatory consumer-notice posting. Change-of-control in a licensee requires Division notice/approval and financial and character review.", "findings": [ { "finding": null, "instrument_type": "safeguarding_mechanism", "source": "https://banking.colorado.gov/sites/banking/files/Early_Stakeholder_Engagement_Memo_Money_Transmitters_Rule.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "conduct_regime", "source": "https://www.consumerfinanceandfintechblog.com/2025/05/colorado-overhauls-money-transmission-law-to-align-with-multistate-licensing-standards/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "control_notification", "source": "https://www.sheppard.com/insights/blogs/colorado-overhauls-money-transmission-law-to-align-with-multistate-licensing-standards", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "conduct_regime", "source": "https://www.law.cornell.edu/regulations/colorado/title-3/agency-701/division-7", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "conduct_guidance", "source": "https://www.hudsoncook.com/article/colorado-uccc-administrator-offers-guidance-on-payday-loan-rate-cap-and-alternative-loan-charges/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W2", "name": "Stablecoins & Digital Money", "confidence": "Assessed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w2-stablecoins-digital-money", "standing_position": "Colorado has no dedicated stablecoin issuance/reserve/redemption statute. Its principal digital-asset instrument is the 2019 Digital Token Act securities exemption; the 2025 MTMA separately expands money-transmission scope to \"digital money movement,\" pulling some stablecoin-adjacent transmission activity into the licensing perimeter without creating a bespoke stablecoin regime.", "findings": [ { "finding": null, "instrument_type": "primary_statute", "source": "https://content.leg.colorado.gov/sites/default/files/documents/2019A/bills/2019a_023_01.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "securities_exemption", "source": "https://cryptoslate.com/colorados-digital-token-act-provides-securities-exemptions-to-businesses-leveraging-utility-tokens/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "primary_statute", "source": "https://www.sheppard.com/insights/blogs/colorado-overhauls-money-transmission-law-to-align-with-multistate-licensing-standards", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "policy_context", "source": "https://www.carltonfields.com/insights/publications/2021/state-regulations-virtual-currency-blockchain-tech", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W3", "name": "Operational Resilience & Critical Infrastructure", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w3-operational-resilience-critical-infrastructure", "standing_position": "Operational resilience for Colorado payment entities is embedded in the money-transmitter examination/recordkeeping regime (quarterly NMLS reporting, agent-roster reporting, record-retention rules) rather than a dedicated op-res statute, supplemented by a general cross-sector data-security duty requiring reasonable security procedures for personal/financial information.", "findings": [ { "finding": null, "instrument_type": "reporting_requirement", "source": "https://banking.colorado.gov/sites/banking/files/Early_Stakeholder_Engagement_Memo_Money_Transmitters_Rule.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "recordkeeping", "source": "https://www.law.cornell.edu/regulations/colorado/title-3/agency-701/division-7", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "supervisory_coordination", "source": "https://www.sheppard.com/insights/blogs/colorado-overhauls-money-transmission-law-to-align-with-multistate-licensing-standards", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "security_procedures", "source": "https://www.recordinglaw.com/us-laws/data-privacy-laws/colorado-data-privacy-laws/data-breach-notification/", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "financial_reporting", "source": "https://banking.colorado.gov/sites/banking/files/documents/HB25-1201_Update_to_Colorados_Money_Transmitter_Act.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W4", "name": "Scheme & Network Compliance", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w4-scheme-network-compliance", "standing_position": "Colorado is one of the few states with its own statutory surcharge regime governing card-scheme interchange pass-through: C.R.S. 5-2-212 permits credit/charge-card surcharging up to 2% or actual merchant discount fee, with mandatory disclosure, signage and line-item receipt rules, while excluding debit, cash and check from surchargeable transactions.", "findings": [ { "finding": null, "instrument_type": "primary_statute", "source": "https://law.justia.com/codes/colorado/title-5/consumer-credit-code/article-2/part-2/section-5-2-212/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "primary_statute", "source": "https://www.agg.com/news-insights/publications/colorado-opens-the-door-to-surcharging-five-key-takeaways/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "policy_context", "source": "https://www.cwpma.org/cpages/article-5033-co-ag-surcharge", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "regulatory_interpretation", "source": "https://coag.gov/app/uploads/2019/07/2002-12-02_fees_for_electronic_debits_and_pmts.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "primary_statute", "source": "https://www.bassberry.com/news/colorado-surcharge-ban/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W5", "name": "Payment Corridor Dynamics", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w5-payment-corridor-dynamics", "standing_position": "Colorado is a globally significant corridor hub because Western Union, the world's largest cross-border money-transfer business, is headquartered in Denver, operating a vast agent network spanning 200+ countries and territories with substantial local remittance flow originating from the Denver metro region itself.", "findings": [ { "finding": null, "instrument_type": "corridor_operator", "source": "https://ir.westernunion.com/news/archived-press-releases/press-release-details/2018/Western-Union-Completes-Relocation-to-New-Global-Headquarters-in-Denver/default.aspx", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "corridor_data", "source": "https://ir.westernunion.com/news/archived-press-releases/press-release-details/2018/Western-Union-Completes-Relocation-to-New-Global-Headquarters-in-Denver/default.aspx", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "corridor_operator", "source": "https://www.zoominfo.com/hq/western-union-holdings-inc-office-address/223117343", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "domestic_rail", "source": "https://www.kansascityfed.org/newsroom/2023-news-releases/fednow-service-is-now-live/", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W6", "name": "Industry Structure & Commercial Dynamics", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w6-industry-structure-commercial-dynamics", "standing_position": "Colorado's payments industry structure blends one dominant global incumbent (Western Union), a large regional bank now fully absorbed into a national acquirer (FirstBank was acquired by PNC, legally closing January 5, 2026, with customer/branch conversion completed June 22, 2026), and a dense cluster of Denver/Boulder/Fort Collins fintechs spanning embedded finance, PayFac-as-a-service, bill-pay and payroll, within a fast-growing regional venture-funding environment.", "findings": [ { "finding": null, "instrument_type": "market_structure", "source": "https://www.builtincolorado.com/articles/colorado-fintech-startups", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market_structure", "source": "https://www.inven.ai/company-lists/top-21-fintech-companies-in-colorado", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market_structure", "source": "https://www.inven.ai/company-lists/top-21-fintech-companies-in-colorado", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market_structure", "source": "https://www.builtincolorado.com/companies/type/fintech-companies/reputation/stability-growth", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market_data", "source": "https://growthlist.co/denver-startups/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W7", "name": "Legal & Litigation", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w7-legal-litigation", "standing_position": "The dominant live payments/consumer-credit litigation in Colorado is NAIB et al. v. Weiser, the fintech-industry challenge to the state's 2024 DIDMCA opt-out interest-rate-cap law. After the district court granted a preliminary injunction against Colorado in 2024 and a Tenth Circuit panel reversed 2-1 in November 2025, the full Tenth Circuit vacated that panel decision and granted en banc rehearing on April 7, 2026; the case is now pending en banc consideration with oral argument scheduled for August 18, 2026, and the scope of Colorado's opt-out authority remains unsettled. Alongside this, the Attorney General/UCCC Administrator continues active enforcement against payments-adjacent consumer-finance conduct (debt collection, credit repair).", "findings": [ { "finding": null, "instrument_type": "litigation", "source": "https://www.bankingdive.com/news/colorado-law-virginia-sb1252-legislation-would-impact-fintech-lending/741044/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "litigation", "source": "https://www.consumerfinancemonitor.com/state-enforcement/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "enforcement_action", "source": "https://www.hudsoncook.com/article/state-watch-consumer-protection-enforcement-update-4/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "enforcement_action", "source": "https://getoutofdebt.org/241638/state-ag-consumer-protection-enforcement-february-2026", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W8", "name": "Merchant Acquiring & Risk", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w8-merchant-acquiring-risk", "standing_position": "Colorado enacted SB26-131 (Sports Betting Protections), effective 2026-08-12, which bans internet sports-betting operators from accepting deposits by credit card - directly or indirectly - and caps an individual bettor at six deposits per 24-hour gaming day, a payment-rail-level restriction on a licensed high-risk merchant category.", "findings": [ { "finding": null, "instrument_type": "merchant_operations", "source": "https://codes.findlaw.com/co/title-5-consumer-credit-code/co-rev-st-sect-5-2-212/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "merchant_operations", "source": "https://law.justia.com/codes/colorado/title-5/consumer-credit-code/article-2/part-2/section-5-2-212/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "merchant_operations", "source": "https://www.dwmk.com/sellers-and-lessors-limited-in-credit-card-surcharges-to-consumers-and-lessees", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "merchant_operations", "source": "https://coag.gov/app/uploads/2019/07/2002-12-02_fees_for_electronic_debits_and_pmts.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W9", "name": "Product Innovation & Market Development", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w9-product-innovation-market-development", "standing_position": "Colorado's product-innovation posture centers on its 2019 crypto-friendly Digital Token Act, a state IT mandate to evaluate blockchain/DLT for government projects, growing FedNow instant-payments adoption among Colorado banks, and a pending (not yet enacted) 2026 bill to regulate earned-wage-access services.", "findings": [ { "finding": null, "instrument_type": "innovation_framework", "source": "https://tokenist.com/colorado-signs-digital-token-act-into-law-some-digital-assets-exempt-from-securities-requirements/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "innovation_framework", "source": "https://oedit.colorado.gov/sites/coedit/files/documents/blockchainreport_final_2-6-2019.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "instant_payments_adoption", "source": "https://www.builtincolorado.com/companies/type/fintech-companies/reputation/stability-growth", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "pending_legislation", "source": "https://leg.colorado.gov/bills/HB26-1046", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W10", "name": "Consumer Protection & APP Fraud", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w10-consumer-protection-app-fraud", "standing_position": "Colorado consumer protection for payments harms rests on the Colorado Consumer Protection Act (AG enforcement), a data-breach notification statute (C.R.S. 6-1-716) with a 30-day notice duty and AG/credit-bureau notification thresholds, and dedicated fraud-reporting infrastructure (Stop Fraud Colorado, CBI's 24-hour identity-theft hotline). The AG has directly enforced payment-card breach notification against a Denver merchant.", "findings": [ { "finding": null, "instrument_type": "breach_notification", "source": "https://codes.findlaw.com/co/title-6-consumer-and-commercial-affairs/co-rev-st-sect-6-1-716/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "enforcement_action", "source": "https://www.recordinglaw.com/us-laws/data-privacy-laws/colorado-data-privacy-laws/data-breach-notification/", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "breach_notification", "source": "https://coag.gov/resources/data-protection-laws/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "victim_support", "source": "https://cbi.colorado.gov/investigations/crime-scene-investigation/economic-crimes/identity-theft-fraud-and-cyber-crimes", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "consumer_protection_program", "source": "https://coag.gov/protecting-consumers/", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W11", "name": "AML/CFT & Financial Crime", "confidence": "Possible", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w11-aml-cft-financial-crime", "standing_position": "W11 is Sentinel.gi-fed by design; this collection pass could not retrieve a Sentinel.gi payments-context feed item for US-CO. Structural federal/state AML architecture applicable to Colorado money-transmission licensees (FinCEN MSB registration, BSA program obligations) is noted as factual context only, not as original illicit-finance analysis.", "findings": [ { "finding": null, "instrument_type": "employee_affirmation", "source": "https://banking.colorado.gov/sites/banking/files/Early_Stakeholder_Engagement_Memo_Money_Transmitters_Rule.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": "Colorado operates under the federal Bank Secrecy Act/AML framework administered by FinCEN, overlaid by state money-transmitter licensing (Colorado Money Transmitters Act, C.R.S. Title 11-110) supervised by the Colorado Division of Banking (DORA). Federal Corporate Transparency Act BOI reporting for domestic entities was rescinded in March 2025, removing a key transparency backstop for Colorado-formed LLCs; state cannabis banking remains cash-intensive due to persistent federal-state conflict.", "instrument_type": "assessment", "source": "FIM (sentinel.gi) per-JID baseline profile — United States — Colorado", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: sourcing-thinness", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-004)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Enforcement: OFAC / FinCEN / U.S. Department of State — Mexico-based cartel fiscal fuel theft and trafficking networks operating along US supply corridors including Colorado's I-25/I-70 distribution routes", "instrument_type": "enforcement_action", "source": "FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-003)", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": "Gap: enforcement-absence", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-001)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: capacity-deficit", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-003)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: regulatory-failure", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-002)", "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "W12", "name": "Correspondent Banking, Settlement & Access", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w12-correspondent-banking-settlement-access", "standing_position": "Colorado's correspondent-banking/settlement access runs through the Federal Reserve Bank of Kansas City's Denver Branch, which supervises state member banks, distributes coin/currency, and channels FedNow/Fedwire/FedACH access across Colorado, Wyoming and northern New Mexico. The pending absorption of Colorado's largest state-chartered bank (FirstBank) into a national bank charter (PNC) is reshaping in-state correspondent and settlement relationships.", "findings": [ { "finding": null, "instrument_type": "settlement_access", "source": "https://www.kansascityfed.org/denver/about-the-denver-branch/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "supervisory_access", "source": "https://www.kansascityfed.org/denver/about-the-denver-branch/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "settlement_access", "source": "https://www.federalreserve.gov/aboutthefed/federal-reserve-system-kansas-city.htm", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "settlement_access", "source": "https://www.sec.gov/Archives/edgar/data/0000713676/000071367625000137/a2025_1212xrlsxpncxfirst.htm", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "settlement_access", "source": "https://www.kansascityfed.org/ten/fednow-service-continues-momentum/", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W13", "name": "Commercial Intelligence & Fintech", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/united-states-colorado/#w13-commercial-intelligence-fintech", "standing_position": "The dominant trailing-12-month commercial event for Colorado payments/banking is PNC's acquisition of Colorado's largest independent state-chartered bank, FirstBank Holding Company — announced September 2025 and completed January 2026 — which materially reshapes deposit and branch concentration in the Denver metro payments/banking market.", "findings": [ { "finding": null, "instrument_type": "commercial_event", "source": "https://www.prnewswire.com/news-releases/pnc-announces-agreement-to-acquire-firstbank-significantly-growing-its-presence-in-colorado-and-arizona-302549032.html", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event", "source": "https://www.prnewswire.com/news-releases/pnc-announces-agreement-to-acquire-firstbank-significantly-growing-its-presence-in-colorado-and-arizona-302549032.html", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event", "source": "https://pnc.mediaroom.com/2026-01-05-PNC-Completes-Acquisition-of-FirstBank", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "investment_climate", "source": "https://growthlist.co/denver-startups/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] } ] }