Businesses must apply by Dec. 31, when the California DFPI licensing safe harbor ends, to continue operating while their licenses are reviewed. 10/28/2022 11:30 A.M. 3.5 minute read Licenses from California’s Department of Financial Protection & Innovation will be issued on a conditional basis starting Jan. 1, 2023, beginning a new licensing process for the […]
Surety bonds in Rhode Island must be entered into NMLS by Feb. 23, 2023. The Collectors Insurance Agency bond unit has resources to help members through this process. 09/28/2022 1:45 P.M. 1.5 minute read Debt collector licensees in Rhode Island will have access to Electronic Surety Bonds (ESBs) through the Nationwide Multistate Licensing System (NMLS) […]
Effective immediately, debt collection licensees and other industries impacted by emergency orders during the pandemic will have an additional 60 days to renew their licenses. 08/22/2022 3:30 P.M. 1 minute read New York City’s Department of Consumer and Worker Protection (DCWP) is allowing an additional 60 days for license holders, including debt collection licensees, to […]
The legislation requires a bond before an agency can be licensed in Rhode Island. 08/04/2022 1:45 P.M. 1 minute read Rhode Island now requires debt collectors to file a $50,000 bond to be licensed in the state after Gov. Daniel McKee signed legislation on licensing this summer. Now that the legislation is in effect, all […]
A consumer received a letter from a debt collector. The consumer claimed the debt collector violated the FDCPA by attempting to collect the debt because the debt purchaser who owned the debt did not have a license from the state of New Jersey. 07/28/2022 3:30 P.M. 3 minute read Valentine v. Mullooly, Jeffrey, Rooney & […]
The comments sought by the California Department of Financial Protection and Innovation (DFPI) focus on draft text related to the scope of the licensing requirement for employees of debt collectors as well as annual report and document retention requirements for licensees. The comment deadline is now Aug. 29 after the DFPI issued a clarification on […]
Bond licensing legislation, now eligible to send to the state’s governor, would require a bond before an agency can be licensed in Rhode Island. 06/24/2022 3:15 P.M. 1 minute read Rhode Island has passed legislation that requires debt collectors to file a $50,000 bond to be licensed in the state. The legislation passed in the […]
The court found a consumer stated a sufficient claim under the FDCPA by alleging a collection agency violated Utah debt collection licensing provisions by outsourcing its collection efforts to a lawyer licensed to pursue collections in the state. 06/21/2022 3:30 P.M. 3.5 minute read Chamberlain v. Crown Asset Management, No. 1:21-CV-00146 DAK, 2022 WL 2158340 […]
The bonds are increasing for main locations and individual branches for licensees effective Oct. 1. 06/20/2022 12:00 P.M. 1 minute read The Connecticut Department of Banking has approved a bond increase from $25,000 for each licensed location to $50,000 for main location bonds. An additional $50,000 in bonds will be added for each branch. The […]
Important updates on Minnesota’s new work-from-home legislation and agency/collector requirements that have not changed. 06/10/2022 10:00 A.M. 2 minute read Minnesota’s work-from-home legislation is now in effect and in partnership with the Minnesota Department of Commerce, ACA International has some important clarifications for agencies collecting from Minnesota consumers. To clear up any confusion: The recent […]
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