A bill for an act relating to debt management programs, services, fees, and licensee requirements.

Summary

The bill mandates that any licensed debt‑management provider keep a dedicated bank account for debtor payments and sets strict conditions on when they can charge fees. It also clarifies that debtors retain control of their own funds and removes certain fee‑related provisions, while exempting licensed providers from the state’s credit‑services organization rules. The changes aim to protect consumers and increase transparency in debt‑relief programs.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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