Chapter 93 of the General Laws, as appearing in the 2004 Official Edition, is hereby amended by inserting after section 24D the following section:—The commissioner of banks shall regulate that a collection agency may accept assignments of any account, bill or indebtedness in its own name as the real party in interest and may bring suit thereon in its own name, provided (a) such assignment is in writing and the agreement with the debtor did not prohibit such assignment, (b) no suit authorized by this section may be instituted on behalf of a collection agency in any court, unless the collection agency appears by a duly authorized and licensed attorney at law, and (c) the collection agency gives the debtor written notice of such assignment within thirty days after such assignment. In the case of an assignment the collection agency shall not employ a deceptive or unfair collection practice as set forth in the Code of Massachusetts Regulations. The collection agency shall not be entitled to collect any interest, charge or expense, including legal fees, in connection with the collection of the principal obligation unless it is expressly authorized in the agreement creating the debt or is permitted by law.