MS SB2441

Reenacts the Mississippi Debt Management Services Act (sections 81-22-1 through 81-22-28) governing debt management service providers operating in the state.

Extends the repealer date for the Act from July 1, 2019 to July 1, 2022, allowing the regulatory framework to remain in effect.

Requires debt management service providers to be licensed by the Commissioner of Banking and Consumer Finance, with initial license fee of $750 and annual renewal fee of $475.

Establishes consumer protections including mandatory written agreements, escrow account requirements for client funds, limits on fees (up to $30/month maintenance, $75 setup, $15-25 for credit reports), and quarterly account reporting.

Prohibits debt management providers from purchasing consumer debt, lending money, obtaining security interests, operating as debt collectors, or creating agreements with negative amortization.