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Key Votes

SB 646 - Allowing For-Profit Entities to Provide Credit Counseling - Key Vote

Maryland Key Votes

Stages

Family

Issues

Stage Details

Legislation - Signed (Executive) -

Title: Allowing For-Profit Entities to Provide Credit Counseling

Legislation - Bill Passed (House) (124-12) - (Key vote)

Title: Allowing For-Profit Entities to Provide Credit Counseling

Vote Result
Yea Votes
Nay Votes
Vote Smart's Synopsis:

Vote to pass a bill allowing for-profit entities to provide debt management services.

Highlights:
- Requires that any counselors employed by a company that provides debt management services be trained in counseling skills, personal finance, budgeting, and credit and debt management before counseling a consumer [sec. 12-907 (4)]. - Requires that the licensed counselor must provide a written summary of the consumer's options for alleviating his or her debt problems before providing debt management services [sec. 12-916 (a) (1) (i) (2)]. - Requires that consumers must sign an acknowledgment that they have reviewed the summary described above before deciding to enter into a debt counseling agreement with the company [sec. 12-916 (a) (1) (i) (3)].
Legislation - Bill Passed (Senate) (41-5) - (Key vote)

Title: Allowing For-Profit Entities to Provide Credit Counseling

Vote Result
Yea Votes
Nay Votes
Vote Smart's Synopsis:

Vote to pass a bill allowing for-profit entities to provide debt management services.

Highlights:
- Requires that any counselors employed by a company that provides debt management services be trained in counseling skills, personal finance, budgeting, and credit and debt management before counseling a consumer [sec. 12-907 (4)]. - Requires that the licensed counselor must provide a written summary of the consumer's options for alleviating his or her debt problems before providing debt management services [sec. 12-916 (a) (1) (i) (2)]. - Requires that consumers must sign an acknowledgment that they have reviewed the summary described above before deciding to enter into a debt counseling agreement with the company [sec. 12-916 (a) (1) (i) (3)].
Legislation - Introduced (Senate) -

Title: Allowing For-Profit Entities to Provide Credit Counseling

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