SB548: SB548 Fraud and Related Offenses; certain for profit organizations from the term "credit repair services organization"; exempt

Georgia law currently regulates businesses that offer to fix people's credit reports under the term 'credit repair services organization,' found in the state's fraud and related offenses statute (O.C.G.A. § 16-9-59). This bill adds a new exception to that definition. A for-profit credit repair organization, as defined under a federal consumer credit law (15 U.S.C. Section 1679a), would not count as a 'credit repair services organization' under Georgia law if it meets certain consumer protection requirements instead. To qualify for the exemption, the company must obtain a $50,000 bond filed with the Georgia Attorney General's office, which stays in place for a year after the company stops operating in the state and can be used to cover fines or damages. The company must also give customers a written contract describing services and monthly fees, a statement explaining the customer's right to dispute credit report items themselves, and a cancellation notice explaining rescission and cancellation rights. The bill repeals any conflicting laws.

• Adds a new exemption to Georgia's fraud statute (O.C.G.A. § 16-9-59) so that certain for-profit credit repair companies are not classified as a 'credit repair services organization' under state law.
• Requires exempted companies to post a $50,000 bond with the Georgia Attorney General's office to cover fines or consumer damages.
• Requires the bond to stay in effect for at least one year after the company stops doing business in Georgia.
• Requires exempted companies to give customers a written contract listing services and monthly costs.
• Requires an information statement telling customers they can dispute credit report items themselves and that the company will only challenge items the customer says are inaccurate.
• Requires a cancellation notice explaining the customer's right to cancel within ten business days or at any time, with a preprinted cancellation form.

For-profit credit repair companies operating in Georgia, their customers who hire them to dispute credit report items, and the office of the Georgia Attorney General, which would receive and hold the required bonds.

Credit repair companies that meet the new bonding and disclosure rules would no longer fall under Georgia's stricter 'credit repair services organization' category, changing which legal requirements apply to them. Consumers dealing with these companies would still get a bond, a written contract, and cancellation rights, but under a different regulatory framework.

• Section 1 amends paragraph (2) of subsection (a) of O.C.G.A. § 16-9-59 by adding a new subparagraph (C) creating the exemption.
• The exemption applies only to organizations meeting the federal definition of a credit repair organization under 15 U.S.C. Section 1679a.
• Exempted organizations must obtain a $50,000 bond filed with the Attorney General's office under rules that office sets.
• The bond must remain in place for at least one year after the company ceases activity in Georgia and covers administrative fines or civil damages.
• Exempted organizations must provide a written contract, an information statement about dispute rights, and a cancellation notice with specific required content.
• Section 2 repeals any laws in conflict with the Act.

1. 2026-02-24Senate Read and Referred (Senate)
2. 2026-02-20Senate Hopper (Senate)

• Carden Summers (R, SD-013)Primary sponsor
• Jason T. Dickerson (R, SD-021)
• Mike Hodges (R, SD-003)
• Ricky Williams (R, SD-025)
• Shawn Still (R, SD-048)
• Steve Gooch (R, SD-051)
• Russ Goodman (R, SD-008)
• Freddie Sims (D, SD-012)
• Lee Anderson (R, SD-024)
• Marty Harbin (R, SD-016)
• Billy Hickman (R, SD-004)
• Frank Ginn (R, SD-047)
• Brian Strickland (R, SD-042)
• Larry Walker (R, SD-020)

• credit repair
• consumer protection
• fraud law
• Attorney General bonding requirements