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HR 3331 108th Congress House

Debt Counseling, Debt Consolidation, and Debt Settlement Practices Improvement Act of 2003

Official title: To amend the Consumer Credit Protection Act to protect consumers from unfair and deceptive practices by organizations providing debt counseling, debt consolida… Show full official titleShow less

Official title: To amend the Consumer Credit Protection Act to protect consumers from unfair and deceptive practices by organizations providing debt counseling, debt consolidation, or debt settlement services, and for other purposes.

Introduced: October 17, 2003 See on congress.gov
Finance and Financial Sector Administrative procedureAdministrative remediesAffiliated corporationsBusiness ethics
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Business recordsCivil actions and liabilityClass actions (Civil procedure)Collection of accountsCommerceConflict of interestsCongressCongressional reporting requirementsConsumer creditConsumer educationConsumer protectionContractsCounselingDamagesDebtor and creditorDeceptive advertisingFederal Trade CommissionFederal preemptionFederal-state relationsFeesFinancial servicesFines (Penalties)FraudGovernment Operations and PoliticsGovernment paperworkGovernmental investigationsIndependent regulatory commissionsLawLegal feesLimitation of actionsNegligenceParties to actionsPersonal budgetsRestrictive trade practicesState laws
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This bill died when the 108th Congress ended
It never became law before the 108th Congress (2003–2004) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 4, 2003
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Oct 17, 2003
Referred to the House Committee on Financial Services.
Oct 17, 2003
Introduced in House
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 Latest action November 4, 2003

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service

Debt Counseling, Debt Consolidation, and Debt Settlement Practices Improvement Act of 2003 - Prohibits an organization that engages in debt counseling, debt consolidation, or debt settlement from engaging in specified unfair and deceptive practices including: (1) unreasonable disclosure of information to third parties regarding amounts owed by any consumer; (2) undisclosed relationship between a debt counseling organization and a debt consolidation or debt settlement organization; (3) diversion of periodic payments from creditor to debt settlement organization; and (4) payment in advance of full performance of service.

Requires a written, dated contract signed by the consumer as a prerequisite to services provided by any organization offering debt counseling, debt consolidation, or debt settlement.

Prescribes contract terms. Establishes the consumer right to cancel such contract.

Declares void and unenforceable any waiver by the consumer of the protections of this Act.

Requires registration with the Secretary of the Treasury of any debt counseling, debt consolidation, or debt settlement organization.

Establishes civil liability for non-compliance with this Act.

Grants the Federal Trade Commission and the States enforcement powers to implement this Act.

Prohibits any requirement or prohibition from being imposed under the laws of any State with respect to any subject matter regulated under this Act.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 4
All 4 Democratic 2 Independent 1
D
Davis, Danny K.
Illinois · Oct 17, 2003
LIPINSKI, WILLIAM
· Oct 17, 2003
 I
Sanders, Bernard
Vermont · Oct 17, 2003
 D
Thompson, Bennie G.
Mississippi · Oct 17, 2003
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3331: Debt Counseling, Debt Consolidation, and Debt Settlement Practices Improvement Act of 2003. 108th Congress. Open America. https://openamerica.io/bill/108-HR-3331/
MLA
"H.R. 3331: Debt Counseling, Debt Consolidation, and Debt Settlement Practices Improvement Act of 2003." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-HR-3331/.
Bluebook (legal)
H.R. 3331, 108th Cong. (2026), https://openamerica.io/bill/108-HR-3331/.
Markdown link
[H.R. 3331: Debt Counseling, Debt Consolidation, and Debt Settlement Practices Improvement Act of 2003](https://openamerica.io/bill/108-HR-3331/)
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