[{"_1":2,"_100":-5,"_101":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6077036,"mediaKeyId","2966050-09f2c1855ddc788523f7547fe2c7f408","parentId",2966050,"title","Committee releases bill to permit for-profit debt-adjustment companies with regulatory conditions","audioSeconds",2875,"startMs",787865,"endMs",3663410,"viewUrl","/Search/View?dp=1&key=2966050-09f2c1855ddc788523f7547fe2c7f408&start=787&end=3663","thumbnailUrl","https://assets.pipeline.soar.com/2966050-09f2c1855ddc788523f7547fe2c7f408/thumbnail_787865.jpg","articleUrl","/articles/6077036/New-Jersey/Committee-releases-bill-to-permit-for-profit-debt-adjustment-companies-with-regulatory-conditions","mediaUrl","https://secure.pipeline.soar.com/6077036-9fded54d89c5e29d3b85b33004243966/orig.mp4?Expires=1771143769&Signature=HZ4AIXue51262tLb2jr5mBbTd20gfeRU0Yd5qQGGkaaQhKeVLhWrAXGpKOY7Wpcud0DFYV0zKDGkkk6DUwCAicHFrqarZNbMJIMI0-W~nQtwgEGhGmf713qXuHOzEfm87~SfIH2PBNnN6FdFCEY1KA-fv3T0i84HOrixS1hli4G1EEMkrUDClkR6FSxQJaE9htc3UCm7nPS~cp-VwRqaZ5Lob82JY2m17r4cSibzGF6E743aVVw~KeRHveVRdcUY9MHpcAUx7eR7e8YGZfSI~UPljKLTkmQsQQwi45GrpGRx4RhyyCm69y2r0FSwuO9H9UN5KXJiROKGMOkWncCcjA__&Key-Pair-Id=KUT5TJCACFTXG","author","New Jersey Legislature","date","2025-04-10T00:00:00Z","article","The Assembly Committee released Assembly Bill A4598 and its Senate counterpart S1310 (second reprint), which would allow certain for-profit debt-adjustment companies to do business in New Jersey under specified conditions, after a lengthy hearing featuring proponents and opponents.

Under current New Jersey law, only nonprofit social-service agencies and nonprofit consumer-credit counseling agencies may operate debt-adjustment services. The bills would create an exception to allow for-profit debt-settlement companies to operate provided they do not receive or hold consumer funds and are subject to the Federal Trade Commission's telemarketing-sales rule and other licensing and reporting requirements. A proposed amendment expands annual-report requirements the Commissioner of Banking and Insurance may impose and delays the act's effective date.

Opponents, including New Jersey Citizen Action, New Jersey Appleseed Public Interest Law Center and legal services and bankruptcy practitioners, urged the committee to reject the bills or adopt far stronger safeguards. Beverly Brown Ruja, financial-justice program director for New Jersey Citizen Action, said, \"I urge this committee to vote no on A4598 unless it is significantly amended to incorporate strong regulatory oversight, mandatory consumer protections, and strict enforcement mechanisms.\" She and other critics cited high failure rates, credit-score declines and litigation risk associated with debt-settlement models.

David McMillan, an attorney with Legal Services of New Jersey, described a recent case in which consumers paid $10,039.60 into an account related to a debt-settlement program but only $1,590.28 was used to pay creditors; he used that example to illustrate allegations that many consumers pay significant sums with little debt relief.

Proponents including the American Association for Debt Resolution, National Debt Relief and Porzio Governmental Affairs argued the bill codifies federal consumer protections, prohibits advanced fees, and would add state oversight. Steve Boms of the American Association for Debt Resolution said the federal rules prohibit advanced fees and require that consumer funds remain under consumer control in insured accounts; he argued licensed, regulated companies can provide a constructive alternative for consumers who do not qualify for bankruptcy.

The committee chairman and several members urged both sides to meet with the bill sponsor and with the executive branch during the interim before second reading. On a motion in committee, the Assembly recorded affirmative votes and released A4598 and S1310 for further legislative consideration.

The hearing produced concrete recommendations from critics — including required regulations before the law takes effect, caps or indemnification for consumer fees, bans on referral fees, and enforceable reporting requirements — that proponents and the committee said should be worked through before final passage.","mediaType","Video","parentTitle","Assembly Regulated Professions Thursday, April 10, 2025 - 2:00 PM","oneSentenceSummary","After extensive testimony for and against, the committee released A4598/S1310 to allow certain for-profit debt-adjustment (debt-settlement) companies to operate in New Jersey if they meet federal and state regulatory conditions; consumer advocates urged stronger safeguards or rejection.","taxTitle","2025 Legislative Sessions, New Jersey","taxId",77696,"location","New Jersey","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6077041,"Committee advances bill to allow reduced quorum for processing licensure applications",344,389930,734415,"/Search/View?dp=1&key=2966050-09f2c1855ddc788523f7547fe2c7f408&start=389&end=734","https://assets.pipeline.soar.com/2966050-09f2c1855ddc788523f7547fe2c7f408/thumbnail_389930.jpg","/articles/6077041/New-Jersey/Committee-advances-bill-to-allow-reduced-quorum-for-processing-licensure-applications","https://secure.pipeline.soar.com/6077041-43c0e733b23d0ad19117a87213493048/orig.mp4?Expires=1771143769&Signature=F0~A~oDM4QH0qqnngMEc4P3pshEHrZPU0tdVW3ryiR~PuIoduDXqD87L6K3y-AfYLOnWi6IRXy35qv9rWn20TBBss0Og9uUooa0J3cEORBuc8M2lujKojBVUQEqSISgJt23-M8~bxLLi5b-DiK16i3Z1J1QtU5mLh5Urw0qgQVvHx4xwrKQJI7UdRPFKjVgT-MzPS1MtO2iCQuiMlzauRFAzDOarTUiPrs3PaTTpXW6VjcguBmoV9~lNCet0i~Rc8HAvGlcG0l4mfo7fXVAYS~YCcGVakcuZEg4LJql0PkRFlXd~~qknjF6q0qgVS5npzSf0EpaFzDCBDUVgTB5MRQ__&Key-Pair-Id=KUT5TJCACFTXG","The Assembly Committee released Assembly Bill A5572 after hearing testimony that the state's professional boards are facing backlogs because vacancies prevent boards from achieving quorum to process licensure applications.

A5572 would allow a quorum for the sole purpose of processing licensure applications when a board has been unable to achieve a quorum for 90 days due to vacancies, including allowing a meeting with one member in attendance if that member is the chair. The provision applies only to applications that do not require legal review based on adverse information from statutorily required criminal-history background checks.

Althea Ford, vice president of government affairs for the New Jersey Business and Industry Association, testified in favor and thanked the committee for amendments intended to prevent unintended consequences while expediting licensure processing. \"We encourage the legislature, to continue to engage with the executive branch with respect to, the concerns around vacancies,\" Ford said, urging collaborative work to fill board vacancies.

Committee members characterized the bill as a short-term fix to a longer-term problem of recruiting and appointing qualified board members. Assemblyman Sharpenberger said he saw the measure as a short-term solution and urged efforts to identify candidates to fill vacancies.

On the motion to release A5572, the committee recorded affirmative votes and announced the bill was released from committee. Proponents said the bill aims to reduce delays in licensure processing that affect applicants and regulated professions; several trade groups filed witness slips supporting the bill.

The bill will move forward for further legislative consideration and possible additional amendments.","A5572 would permit professional boards with vacancies for more than 90 days to process licensure applications with fewer members present, including allowing the chair to act alone for certain routine application processing. The committee released the bill after testimony from business groups urging balance between speed and safeguards.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6077046,"Assembly committee releases bill to regulate virtual-currency kiosks",316,61950,378115,"/Search/View?dp=1&key=2966050-09f2c1855ddc788523f7547fe2c7f408&start=61&end=378","https://assets.pipeline.soar.com/2966050-09f2c1855ddc788523f7547fe2c7f408/thumbnail_61950.jpg","/articles/6077046/New-Jersey/Assembly-committee-releases-bill-to-regulate-virtual-currency-kiosks","https://secure.pipeline.soar.com/6077046-864fb02c0d2019bf1202091cb02ea283/orig.mp4?Expires=1771143769&Signature=TGymVns1kxjX5UI5g8F7IsPJOF5KZ85AWmXK~coFR4VRK6JFIVK0Gkr~es3Qyxf~tO9m2jjwh-MUEwyP8gEqGxqoEstpII66~-deBeHBpbIuWw7N521RFv9NYMIH9Fq07AArv6wd-EvyLrSD8xfXfI0fGxyfvhW1d0JL912-ZW-1-~b85Gu6fcqwLjBApv5Thvzl~l4bXG79uf8-zklJQ1j5MsgZuSrNIqGfsdRwUGKovfRX9WqB0ccRStYi80uJn0GuRE7g4YFgfA8NOCn3NcazLLiMgs9YNWFN1izxxHr6Ljdvo3JSg9t2UnsHXYGdC6~Uw9mDIucGsL7F9yZSeg__&Key-Pair-Id=KUT5TJCACFTXG","The Assembly Committee released Assembly Bill A5384 on a motion in committee after hearing testimony from cryptocurrency-kiosk operators and convenience-store trade groups.

A5384 would require owners or operators of kiosks that exchange fiat currency and virtual currency to display notices and disclosures to customers, including that virtual currency is not legal tender and warnings about scams, and would require kiosk operators to obtain a money-transmitter license from the Department of Banking and Insurance. A proposed amendment would require signage stating that a kiosk is not an ATM that dispenses U.S. dollars and would limit kiosk placement to secure areas with functional security cameras and lighting.

David Smith, PPAG, on behalf of CoinFlip, said, \"This legislation, protects consumers. It puts provisions in place, for an industry right now that that doesn't have, a tremendous amount of regulations across the board.\" He told the committee CoinFlip operates about \"6,000 kiosks worldwide\" and has several hundred in New Jersey.

Eric Lomgren of the New Jersey Gasoline Convenience Store Association said small businesses hosting kiosks receive a steady revenue stream and increased foot traffic and that the bill strikes a balance between consumer protection and allowing a useful business product. \"I think this bill does that and I think it's a much better direction to go in than any sort of, wholesale ban on it,\" Lomgren said.

Committee members asked no substantive follow-up questions during the hearing. On the motion to release the bill from committee, recorded affirmations included Assemblyman Sharpenberger, Assemblywoman McCann Stamato, Assemblyman Hutchison, Assemblywoman Koyasas Gill, Vice Chairwoman Spade and Chairman Stanley; the committee announced the bill was released.

The bill now moves toward further consideration in the Assembly. Supporters argued the licensing and disclosure requirements will give consumers clearer information about kiosk transactions and reduce scam risk; trade groups said amendments improve consumer safeguards while preserving revenue for small retailers hosting the machines.

Votes at a glance: A5384 — motion to release passed in committee (bill released).","The Assembly committee released A5384, the Virtual Currency Kiosk Consumer Protection Act, after proponents including kiosk operators and convenience-store groups testified in favor of signage, licensing and location requirements to inform and protect consumers.","actionData","errors"]

Article not found

Committee releases bill to permit for-profit debt-adjustment companies with regulatory conditions

Committee advances bill to allow reduced quorum for processing licensure applications

Assembly committee releases bill to regulate virtual-currency kiosks