ND HB1204

Creates a new section allowing collection agencies to charge a transaction fee for credit card payments up to 2.5% of the payment amount, subject to three conditions.

Requires collection agencies to provide a no-cost payment option to debtors and disclose this option at the same time and in the same manner as when collecting credit card information.

Adds "credit card payment" to the definitions in Chapter 13-05, defining it as a payment made by a payment card that incurs a credit card interchange fee to the collection agency.

Clarifies and renumbers eight definitions applicable to collection agencies, including collection agency, creditor, debt, debt collection, insolvent, and mortgage servicing company.

Passed with strong support: House 88-2 (4 absent), Senate 41-4 (2 absent).