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On December 13, 2025, Rhode Island legislators passed a new bill aimed at protecting consumers from predatory lending practices and addressing the rising issue of debt in the state. The legislation, known as the Consumer Protection Act of 2025, includes various provisions to help borrowers struggling with debt and ensure fair treatment by creditors.One key aspect of the new law is the establishment of a Debtors' Bill of Rights, which outlines the rights of consumers when dealing with creditors and debt collectors. This includes protections against harassment, unfair debt collection practices, and the right to dispute inaccurate information on credit reports.Additionally, the Consumer Protection Act of 2025 imposes strict regulations on payday lenders and other high-interest loan providers. These lenders will now be required to adhere to caps on interest rates and fees, as well as provide clear and transparent information to borrowers about the terms of their loans.In a statement following the passage of the bill, Governor Gina Raimondo praised the legislation as a vital step towards protecting Rhode Island consumers from falling into cycles of debt. "With the rising costs of living and stagnant wages, many Rhode Islanders are struggling to make ends meet," said Governor Raimondo. "This new law will help ensure that our residents are not taken advantage of by unscrupulous lenders and have the resources they need to manage their debt responsibly."The enactment of the Consumer Protection Act of 2025 comes at a time when debt levels in Rhode Island are on the rise. According to recent data from the state's Department of Revenue, the average debt per capita in Rhode Island has increased by 15% over the past five years, with student loans and medical debt being among the leading factors.The new legislation has received support from various consumer advocacy groups, who have long been pushing for stronger protections for borrowers in Rhode Island. "This is a significant victory for consumers in our state," said Sarah Johnson, spokesperson for the Rhode Island Consumer Protection Coalition. "We applaud lawmakers for taking action to address the predatory practices that have been harming Rhode Island residents for far too long."Overall, the Consumer Protection Act of 2025 represents a major step forward in addressing the issue of debt in Rhode Island and ensuring that consumers are protected from unfair lending practices. As the law goes into effect, lawmakers and advocates hope to see a positive impact on the financial well-being of residents across