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Committee advances law to modernize licensing, oversight of debt‑resolution companies
2776828 · March 26, 2025
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Summary
The panel approved an amended bill that separates debt‑resolution firms from credit counselors, requires licensing, FDIC-insured client accounts, and preserves consumer protections that bar collection of fees until a resolution is reached.
The House Commerce Committee on March 26 approved an amended measure to modernize licensure and regulation of debt‑resolution providers.
Sponsor Representative Keasler told the committee the bill separates debt‑resolution companies from credit counselors, clarifies that providers may not collect fees until a creditor…
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