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Connecticut Supreme Court Rejects Regulation of Debt Negotiation Law Firms

The Connecticut Supreme Court has struck down a state law that gave the Department of Banking authority to regulate law firms engaged in debt collection, The Connecticut Law Tribune's Christian Nolan reports.

The Supreme Court ruled that only the judiciary can regulate the conduct of law firms. The law limited the fees that law firms could charge and required law firms to pay $800 annual licenses for helping consumers renegotiate credit card debt.