Legislative Tracker
| State | Bill # | Status | DS License Currently Required |
|---|---|---|---|
| California | AB 1405 | Approved by Governor 10/4/2021 | Current California law is silent with respect to licensing requirements for companies that seek to provide debt settlement services within the state. Under the recently approved legislation, debt settlement companies would have to provide certain disclosures, making the requirements to provide such services analogous to obtaining a registration within the state. |
| Illinois | H.B.0104 S.B.2054 | Referred to Committee 3/27/21 Referred to Committee 3/3/21 | |
| Maryland | H.B.0128 | Sent to Executive | |
| Massachusetts | H.1051 | Referred to Committee on 3/29/21 | If your company claims to improve consumers’ credit, certain registration requirements may be required as set forth by Massachusetts statutory guidelines. |
| Minnesota | S.F.1391 H.F.2342 S.F.56 | Second Reading 2/24/22 Second Reading 2/7/22 Referred to Rules and Administration 6/21/21 | If your company is holding itself out as a third party to hold funds for distribution to creditors on behalf of debtors, certain registration requirements may be required. |
| New York | A.3525 | Referred To Consumer Affairs And Protection 1/5/22 | If your company is not holding itself out as a third party to hold funds for distribution to creditors on behalf of debtors, a license may not be required at this time. |
| North Carolina | H76 | Referred to Committee 3/3/21 | If your company is not holding itself out as a third party to either alter payments to creditors or hold funds for distribution to creditors on behalf of debtors, a license may not be required at this time. |
| Ohio | S.B.211 | Referred to Committee 9/8/21 |