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Financial Services Law Insights and Observations

Tennessee Amends Consumer Protection Provision of the Uniform Debt-Management Services Act

State Issues

The state of Tennessee recently amended the Uniform Debt-Management Services Act regarding registration applicants for entities providing debt-management services in the state. The new provision requires applications for registration to include (at their own expense) the results of fingerprint-based criminal history records, both state and national, covering every officer of the applicant and every employee or agent of the applicant who is authorized to have access to the trust account used to hold money for disbursement to creditors. This amendment is effective immediately.

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