Tag Archives: Debt Settlement

DFPI Issues Draft Rules to License Four New Types of Industries, Including Debt Settlement Providers

The California Department of Financial Protection & Innovation is seeking comments on a proposed rulemaking that would require four different industries to be registered with the state in order to operate — debt settlement services, student debt relief services, education financing, and wage-based advances. Comments on the proposed rulemaking are …

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Mass. AG Levies $1M Fine Against Debt Settlement Company

The Attorney General of Massachusetts has announced a consent order with a debt settlement company that will pay $1 million to settle claims it took advantage of consumers by charging them “significant” fees for negotiating settlements with creditors and enrolling consumers in “unaffordable” programs that left consumers “in worse financial …

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Bill Introduced in Ohio to Legalize Debt Settlement

A bill has been re-introduced in the Ohio legislature that would allow debt settlement companies to operate in the state, but the prospects for passage this time around might be different following a state Supreme Court ruling that was issued earlier in the year. The bill — the Financial Accountability …

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