AN ACT relating to debts.

Summary

The law requires every licensed deferred‑deposit service to enter detailed transaction data into a statewide, internet‑accessible database. The commissioner can run the system or hire a third‑party, and may charge up to $3 per transaction, which can be passed to the customer. The database is used to verify open transactions, prevent fraud, and support enforcement, while keeping all information confidential.

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

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