Debt Counseling, Debt Consolidation, and Debt Settlement Practices Improvement Act of 2003

Summary

Debt Counseling, Debt Consolidation, and Debt Settlement Practices Improvement Act of 2003 - Prohibits an organization that engages in debt counseling, debt consolidation, or debt settlement from engaging in specified unfair and deceptive practices including: (1) unreasonable disclosure of information to third parties regarding amounts owed by any consumer; (2) undisclosed relationship between a debt counseling organization and a debt consolidation or debt settlement organization; (3) diversion of periodic payments from creditor to debt settlement organization; and (4) payment in advance of full performance of service. Requires a written, dated contract signed by the consumer as a prerequisite to services provided by any organization offering debt counseling, debt consolidation, or debt settlement. Prescribes contract terms. Establishes the consumer right to cancel such contract. Declares void and unenforceable any waiver by the consumer of the protections of this Act. Requires registration with the Secretary of the Treasury of any debt counseling, debt consolidation, or debt settlement organization. Establishes civil liability for non-compliance with this Act. Grants the Federal Trade Commission and the States enforcement powers to implement this Act. Prohibits any requirement or prohibition from being imposed under the laws of any State with respect to any subject matter regulated under this Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 17 October 2003

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 17 October 2003

   Introduced

   Introduced in House

   Source: IntroReferral

3. 17 October 2003

   Introduced

   Introduced in House

   Source: IntroReferral

4. 4 November 2003

   Referred

   Referred to the Subcommittee on Financial Institutions and Consumer Credit.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 17 October 2003 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 October 2003

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 17 October 2003

  ViewDownloadOpen at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in House

  summary · EN · 17 October 2003

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Carson, Julia [D-IN-7] · D · Sponsor
• Rep. Owens, Major R. [D-NY-11] · D · Sponsor
• Rep. Lipinski, William O. [D-IL-3] · D · Sponsor
• Rep. Napolitano, Grace F. [D-CA-32] · D · Sponsor
• Rep. Jones, Stephanie Tubbs [D-OH-11] · D · Sponsor
• Rep. Ryan, Tim [D-OH-13] · D · Sponsor
• Rep. Davis, Danny K. [D-IL-7] · D · Sponsor
• Rep. Hinchey, Maurice D. [D-NY-22] · D · Sponsor
• Rep. Thompson, Bennie G. [D-MS-2] · D · Sponsor
• Rep. Lee, Barbara [D-CA-12] · D · Sponsor
• Sen. Sanders, Bernard [I-VT] · I · Sponsor
• Rep. Kucinich, Dennis J. [D-OH-10] · D · Cosponsor
• · hsba00 · Standing

Related records

No cross-record relationships stored yet.