Wednesday, February 24, 2010

Baltimore Sun urges regulation of debt settlement industry

The Baltimore Sun's latest editorial, about House Bill 392, sponsored by Del. Vaughn:
The legislation would allow companies to charge a $50 fee to set up an account but would prohibit them from collecting more until the service is successfully completed. Given the damage these kinds of companies can do, the Maryland General Assembly would seem entirely justified in outlawing this business practice altogether. The proposed regulations, by contrast, seem downright generous. -- read entire piece

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