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FL S0628

Bill

Official Source

Status

Introduced

2/9/2023

Primary Sponsor

Banking and Insurance

Click for details

Origin

Senate

2023 Regular Session

AI Summary

  • Amends section 817.802, Florida Statutes, governing unlawful fees and costs for debt management and credit counseling services
  • Increases the maximum monthly fee for debt management services from the greater of 7.5% of the debtor's monthly payment or $35 to the lesser of 15% of the monthly payment or $75
  • Changes the fee calculation standard from "the greater of" to "the lesser of," providing a cap that protects debtors from higher charges under either method
  • Retains the existing $50 maximum for initial setup or consultation fees and the $120 per year cap for additional consultations without changes
  • Effective date of July 1, 2023

Legislative Description

Debt Management Services

Last Action

Laid on Table, companion bill(s) passed, see CS/HB 599 (Ch. 2023-206)

5/1/2023

Committee Referrals

Rules4/5/2023
Commerce And Tourism3/24/2023

Full Bill Text

No bill text available