July 28 meeting will launch opportunities for industry stakeholders to provide feedback on the state’s debt collection licensing program, among other topics.
A diverse group of stakeholders created under the Debt Collection Licensing Act (DCLA) in California will meet with the California Department of Financial Protection and Innovation (DFPI) for the first time July 28.
The department announced the creation of its inaugural debt collection advisory committee, a seven-member board that will provide critical feedback to the department as it establishes its debt collection licensing program, in April.
The diverse group includes a consumer advocate and representatives from the debt collection, debt buying, third-party collection and collection law industries. Senior Deputy Commissioner Suzanne Martindale will lead the committee.
ACA International members on the committee include Scott Hyman, attorney with Severson & Werson PC; Mark Naiman, president of Absolute Resolutions Corp.; Cindy Yaklin, president of States Recovery Systems Inc. and the California Association of Collectors Inc.; Tamar Yudenfreund, senior director, public policy at Encore Capital Group and chair of ACA’s federal affairs committee; and Ohad Samet, president of TrueAccord Corp.
“We feel we have very strong representation on the committee,” said ACA Vice President of State Unit and Government Affairs Andrew Madden.
Additional committee members include Elizabeth Gonzalez, directing attorney with the Consumer Law Unit at the Public Law Center, and Prasad Krishnamurthy, professor of law at the University of California Berkeley School of Law.
“I am honored to serve on the DFPI’s debt collection advisory committee and am looking forward to our first meeting next week to meet Suzanne Martindale, the other committee members, and begin the committee’s important work advising the DFPI on matters relating to our industry,” Yudenfreund said.
The committee will advise the DFPI on matters related to the debt collection business, including proposed fee schedules and other requirements.
“I look forward to working with the DFPI to improve consumer protection and choice, which will be especially important this year as we emerge from the pandemic and direct economic aid to consumers decreases,” Samet said. “With personal debt like credit cards and medical bills being largely overlooked by lawmakers, consumers are left to navigate the increasing number of alternative financial services that may be helpful but may be potentially predatory. The debt collection advisory committee will be working to make sure that all consumers facing debt collection in California are treated fairly and equitably. Similar to other facets of consumer protection like privacy regulation, I expect that the rules coming out of the DFPI may end up impacting consumers nationwide.”
The committee members were appointed for two-year terms.
The committee’s first meeting is from 1:30 to 3 p.m. PDT July 28 and the agenda includes a program update, regulations, a roundtable discussion and public comment.
To access the meeting use the Zoom link: https://us02web.zoom.us/j/86309472860.
Meeting ID: 863 0947 2860
To access by phone:
U.S.: (215) 446 3656
Toll Free: (888) 363-4734
Conference code: 611586
In addition to creating the committee, the DCLA, which takes effect Jan. 1, 2022, requires any person engaging in the business of debt collection in California to be licensed by the DFPI.
The California Commissioner of the DFPI recently announced that license applications required under the DCLA will be online through the Nationwide Multistate Licensing System & Registry Sept. 1, ACA previously reported. Applications will be due by Dec. 31, 2021, and required starting Jan. 1, 2022.