NJSBA headquarters NJSBA headquarters, New Brunswick, NJ. Credit: Google

Capitol Report

• Legislature considers for-profit debt adjusters in New Jersey, Association raises concerns

The New Jersey State Bar Association testified before the Assembly Consumer Affairs Committee last week to raise concerns about A1739 (McKeon)/S2989 (Pou). The measure would make certain for-profit debt adjusters eligible for licensing to conduct business in the state. The NJSBA opposes the bill, which was up for discussion only and was not posted for a vote in the committee.

"The bill would open the door to abuses that are widespread in the states that permit for-profit debt adjustment," the NJSBA said in a statement to the committee. Consumer Protection Law Chair Yongmoon Kim and member Ronald LeVine testified on the NJSBA's behalf.