The Commonwealth of Massachusetts
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PETITION OF:
The Commonwealth of Massachusetts
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PETITION OF:
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In the Year Two Thousand and Seven.
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Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
Notwithstanding the provisions of any general or special law to the contrary, the Office of Consumer Affairs and Business Regulation shall create a commission to study debt collection practices by varying entities within the Commonwealth.
1. The commission shall consist of 7 members, 2 of whom shall be appointed by the Governor of the Commonwealth, 2 appointed by the Speaker of the House of Representatives, 2 appointed by the Senate President, and 1 appointed by the Commissioner of the Office of Consumer Affairs and Business Regulation.
2. The commission shall examine issues relative to debt collection, including:
A. The recent growth of the debt-collection industry and it’s practices, specifically the buying of debt by other companies and the methods by which those companies pursue collection from specific individuals;
B. The development of a plan, legislative or otherwise, which provides remediation for consumers who are either improperly targeted by these agencies due to mistaken identity or are being improperly harassed for the debt that they do owe.
3. The commission may meet and hold hearings at the place or places it designated during the sessions or recesses of the Legislature. The commission shall issue a final report to the Governor and Legislature no later than twelve months following its organizational meeting on the need, viability and cost of recommended changes in the laws and regulations surrounding debt collection.
4. This act shall take effect immediately upon its passage.