SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2019 SESSION
HB 2196 Debt settlement services; civil penalties.
Introduced by: Debra H. Rodman | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Debt settlement services; civil penalties. Establishes procedures and requirements for the licensure by the State Corporation Commission of agencies providing debt settlement services. The measure defines debt settlement services as any action or negotiation initiated or taken by or on behalf of any consumer with any creditor of the consumer for the purpose of obtaining debt forgiveness of a portion of the credit extended by the creditor to the consumer or reduction of payments, charges, or fees payable by the consumer. The measure authorizes the Commission to issue one license to engage in the business of providing or offering to provide debt management plans, debt settlement services, or both. The measure prohibits licensed debt settlement services agencies from accepting fees from consumers prior to providing the consumers' requested debt settlement services. The measure makes licensees offering debt settlement services subject to requirements currently applicable to licensees providing debt management plans. The measure also (i) prohibits certain advertising practices by new licensees, (ii) provides for the assessment of civil penalties, and (iii) grants individual consumers a private right of action. Violations are also a prohibited practice under the Virginia Consumer Protection Act.
FULL TEXT
- 01/08/19 House: Prefiled and ordered printed; offered 01/09/19 19104212D pdf | impact statement
- 01/31/19 House: Committee substitute printed 19106074D-H1 pdf | impact statement
AMENDMENTS
- House subcommittee amendments and substitutes offered
- House subcommittee amendments and substitutes adopted
HISTORY
- 01/08/19 House: Prefiled and ordered printed; offered 01/09/19 19104212D
- 01/08/19 House: Referred to Committee on Commerce and Labor
- 01/15/19 House: Assigned C & L sub: Subcommittee #2
- 01/29/19 House: Subcommittee recommends reporting with substitute (9-Y 0-N)
- 01/29/19 House: Subcommittee recommends referring to Committee on Appropriations
- 01/31/19 House: Committee substitute printed 19106074D-H1
- 01/31/19 House: Reported from Commerce and Labor with substitute (20-Y 0-N)
- 01/31/19 House: Referred to Committee on Appropriations
- 02/05/19 House: Left in Appropriations