republic-os/legislation/us/states/va/2020/hb-1553.md

---
type: "Bill"
title: "Debt settlement services providers; licensure and regulation by State Corporation Commission."
description: "Debt settlement services providers; penalties. Provides for the licensure and regulation of debt settlement services providers by the State Corporation Commission. The measure defines \"debt settlement services\" as any action or negotiation initiated or taken by or on behalf of any consumer with any creditor of the consumer for the purpose of obtaining debt forgiveness of a portion of the credit extended by the creditor to the consumer or reduction of payments, charges, or fees payable by the consumer. The measure prohibits licensees from accepting a fee from consumers prior to providing the consumers' requested debt settlement services. The requirements imposed by this measure on licensed providers of debt settlement services are similar to those applicable to agencies providing debt management plans. The measure provides for civil penalties against licensees that violate these requirements, grants consumers a private right of action against licensees, and makes a violation a prohibited practice under the Virginia Consumer Protection Act. The licensing and regulation of debt settlement services providers has a delayed effective date of July 1, 2021. The measure directs the State Corporation Commission to establish a procedure to be in effect by March 1, 2021, for any person to apply prior to July 1, 2021, for a license that will become effective when the licensing requirements of this measure become effective on July 1, 2021."
jurisdiction: "us/states/va"
legislature: "Virginia General Assembly"
session: "2020"
identifier: "HB 1553"
citation: "Virginia HB 1553 (2020)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Rodney T. Willett"]
version_count: 4
action_count: 42
vote_count: 9
first_action: "2020-01-11"
last_action: "2020-04-07"
source: "openstates"
source_identifier: "ocd-bill/e83adb81-3c38-4fd7-a407-82a7e63f50e7"
source_url: "https://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+HB1553"
source_hash: "a32a05588304447c467cb7ee8602ef3f83c035544da2b52c5eb19c1c4a6e4fe0"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-va"]
---

# Virginia HB 1553 (2020) — Debt settlement services providers; licensure and regulation by State Corporation Commission.

Debt settlement services providers; penalties. Provides for the licensure and regulation of debt settlement services providers by the State Corporation Commission. The measure defines "debt settlement services" as any action or negotiation initiated or taken by or on behalf of any consumer with any creditor of the consumer for the purpose of obtaining debt forgiveness of a portion of the credit extended by the creditor to the consumer or reduction of payments, charges, or fees payable by the consumer. The measure prohibits licensees from accepting a fee from consumers prior to providing the consumers' requested debt settlement services. The requirements imposed by this measure on licensed providers of debt settlement services are similar to those applicable to agencies providing debt management plans. The measure provides for civil penalties against licensees that violate these requirements, grants consumers a private right of action against licensees, and makes a violation a prohibited practice under the Virginia Consumer Protection Act. The licensing and regulation of debt settlement services providers has a delayed effective date of July 1, 2021. The measure directs the State Corporation Commission to establish a procedure to be in effect by March 1, 2021, for any person to apply prior to July 1, 2021, for a license that will become effective when the licensing requirements of this measure become effective on July 1, 2021.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Acts of Assembly Chapter text (CHAP0785)** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+CHAP0785)
2. **Bill text as passed House and Senate (HB1553ER)** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB1553ER)
3. **Engrossed by House as amended HB1553E** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB1553E)
4. **Impact statement from SCC (HB1553)** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB1553)

## Votes

- Reported from Labor and Commerce with amendments (18-Y 1-N) — **18–1** (pass) · lower
- Constitutional reading dispensed (38-Y 0-N) — **38–0** (pass) · upper
- VOTE: Passage (86-Y 12-N) — **85–12** (pass) · lower
- Subcommittee recommends reporting with amendment (6-Y 1-N) — **6–1** (pass) · lower
- Reported from Finance and Appropriations (15-Y 0-N) — **15–0** (pass) · upper
- Reported from Appropriations with amendment (17-Y 3-N) — **17–3** (pass) · lower
- Passed Senate with amendments (31-Y 9-N) — **31–9** (pass) · upper
- VOTE: Adoption (71-Y 23-N) — **70–23** (pass) · lower
- Reported from Commerce and Labor with amendments (13-Y 2-N) — **13–2** (pass) · upper

## Sponsors

- Rodney T. Willett — primary (person)
- Ibraheem S. Samirah — cosponsor (person)
- Sam Rasoul — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2020-01-11** Presented and ordered printed 20105424D `introduction`
- **2020-01-11** Referred to Committee on Labor and Commerce `referral-committee`
- **2020-01-19** Impact statement from SCC (HB1553)
- **2020-01-23** House committee, floor amendments and substitutes offered
- **2020-01-23** Reported from Labor and Commerce with amendments (18-Y 1-N) `committee-passage`
- **2020-01-23** Referred to Committee on Appropriations `referral-committee`
- **2020-01-24** Assigned App. sub: Compensation & General Government `referral-committee`
- **2020-02-04** House subcommittee amendments and substitutes offered
- **2020-02-04** Subcommittee recommends reporting with amendment (6-Y 1-N)
- **2020-02-05** House committee, floor amendments and substitutes offered
- **2020-02-05** Reported from Appropriations with amendment (17-Y 3-N) `committee-passage`
- **2020-02-06** Read first time `reading-1`
- **2020-02-07** Read second time `reading-2`
- **2020-02-07** Committee on Labor and Commerce amendments agreed to
- **2020-02-07** Committee on Appropriations amendment agreed to
- **2020-02-07** Engrossed by House as amended HB1553E
- **2020-02-07** Printed as engrossed 20105424D-E
- **2020-02-10** Read third time and passed House (86-Y 12-N) `passage, reading-3`
- **2020-02-10** VOTE: Passage (86-Y 12-N)
- **2020-02-11** Constitutional reading dispensed
- **2020-02-11** Referred to Committee on Commerce and Labor `referral-committee`
- **2020-02-12** Impact statement from SCC (HB1553E)
- **2020-02-17** Reported from Commerce and Labor with amendments (13-Y 2-N) `committee-passage`
- **2020-02-17** Rereferred to Finance and Appropriations `referral-committee`
- **2020-02-18** Impact statement from VCSC (HB1553)
- **2020-02-18** Impact statement from VCSC (HB1553EH1)
- **2020-02-25** Reported from Finance and Appropriations (15-Y 0-N) `committee-passage`
- **2020-02-26** VOTE: Adoption (71-Y 23-N)
- **2020-02-26** Constitutional reading dispensed (38-Y 0-N)
- **2020-02-26** Read third time `reading-3`
- **2020-02-26** Reading of amendments waived
- **2020-02-26** Committee amendments agreed to
- **2020-02-26** Engrossed by Senate as amended
- **2020-02-26** Passed Senate with amendments (31-Y 9-N) `passage`
- **2020-02-26** Senate amendments agreed to by House (71-Y 23-N)
- **2020-03-03** Enrolled
- **2020-03-03** Impact statement from SCC (HB1553ER)
- **2020-03-03** Signed by Speaker
- **2020-03-04** Signed by President
- **2020-03-12** Enrolled Bill communicated to Governor on March 12, 2020
- **2020-03-12** Governor's Action Deadline 11:59 p.m., April 11, 2020
- **2020-04-07** Approved by Governor-Chapter 785 (effective 7/1/21-see bill) `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/e83adb81-3c38-4fd7-a407-82a7e63f50e7`. Confidence: reported (aggregated from official Virginia legislature records).