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MN HF2406
Bill
Status
Introduced
2/27/2014
Primary Sponsor
Debra Hilstrom
Click for details
AI Summary
- Amends Minnesota Statutes section 332.31 to include debt buyers in the definition of "collection agency"
- Defines a debt buyer as a person who purchases an account, bill, or other indebtedness incurred for personal, family, or household purposes and collects it on their own behalf
- Expands the definition of "collector" to include persons acting on behalf of a collection agency who purchase and collect consumer debt on their own behalf
- Applies existing debt collection regulations to debt buyers who were previously not explicitly covered under Minnesota's collection agency laws
Legislative Description
Debt buyers regulated.
Last Action
Second reading
3/21/2014
Committee Referrals
Commerce and Consumer Protection Finance and Policy2/27/2014
Full Bill Text
No bill text available