OH SB211

Transfers regulation of debt adjusting from local legislative authorities to the Ohio Attorney General, requiring state registration of debt adjusting companies and establishing consistent statewide requirements.

Limits fees charged by debt adjusters to a maximum of $75 for initial consultation, $100 annually for consultation fees, and 8.5% of monthly debt payments (or $30, whichever is greater) for ongoing debt management plan administration.

Requires debt adjusters to maintain separate trust accounts for client funds, disburse client payments to creditors within 30 days, obtain annual audits by certified public accountants, and maintain minimum insurance coverage of $100,000 for employee dishonesty and fraud.

Establishes the Attorney General's authority to deny, suspend, or revoke registrations for applicants with felony convictions, fraud history, or failure to meet financial responsibility standards, with appeal rights through Chapter 119 procedures.

Specifies that violations of debt adjusting regulations are unfair or deceptive practices under consumer protection law, with consumers entitled to remedies and the Attorney General empowered to enforce compliance.