Bill Sponsor
House Bill 2572
117th Congress(2021-2022)
Stop Debt Collection Abuse Act of 2021
Introduced
Introduced
Introduced in House on Apr 15, 2021
Overview
Text
Introduced
Apr 15, 2021
Latest Action
Apr 15, 2021
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2572
Congress
117
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Democrat
Missouri
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Stop Debt Collection Abuse Act of 2021

This bill applies certain consumer protections regarding debt collection to debt owed to a federal agency and to debt buyers.

A federal agency that is a creditor may not sell or transfer a debt to a debt collector until 90 days after the obligation becomes delinquent or defaults. Specified notice to the consumer of such a sale or transfer is required.

A collector of debt owed to a federal agency may not collect any interest, fee, charge, or expense that is (1) unreasonable in relation to actual costs, (2) not authorized by a contract between the debt collector and the federal agency, or (3) greater than 10% of the amount collected.

The Government Accountability Office must report on the use of debt collectors by federal, state, and local government agencies.

Text (1)
April 15, 2021
Actions (2)
04/15/2021
Referred to the House Committee on Financial Services.
04/15/2021
Introduced in House
Public Record
Record Updated
Mar 8, 2023 8:26:28 PM