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Sunset Debt-Management Service Providers

Concerning the continuation of functions related to the regulation of debt-management service providers, and, in connection therewith, implementing the recommendations in the 2023 sunset report by the department of regulatory agencies.
2024 Regular Session
Financial Services & Commerce
Bill Summary

Sunset Process - House Judiciary Committee. The bill implements the recommendations in the 2023 sunset report by the department of regulatory agencies by:

  • Continuing the regulation of debt-management service providers for 11 years, to 2035 ( sections 1 and 2 of the bill );
  • Requiring a debt-management service provider to maintain records of the education provided to an individual ( section 3 );
  • Requiring settlement agreements between a consumer and creditor to be in writing ( section 4 ); and
  • Requiring fees paid by debt-management service providers to be set administratively instead of through the rule-making process ( section 5 ).
    (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)




Bill Text

  • All Versions (5 )
    Date Bill Type Documents
    04/17/2024 Rerevised PDF
    04/16/2024 Revised PDF
    03/11/2024 Reengrossed PDF
    03/08/2024 Engrossed PDF
    02/12/2024 Introduced PDF

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