California Regulatory Agency Opens Applications for Debt Collection Advisory Committee

Application formThe committee seeks members with experience in state or national trade associations or with policy discussions related to debt collection issues. Committee participation is an opportunity to engage with state regulators on behalf of the ARM industry and consumers.

01/25/2023 13:55

3 minute read

The California Department of Financial Protection and Innovation (DFPI) is seeking candidates to fill upcoming positions on the Debt Collection Advisory Committee for the 2023-2025 term.

The Debt Collection Advisory Committee is a seven-member board established under the Debt Collection Licensing Act that advises DFPI on matters related to the debt collection business, including proposed fee schedules and other requirements.

Those interested in serving on the Debt Collection Advisory Committee will need to provide a statement summarizing their qualifications or submit the available form (PDF), according to the DFPI. The qualification statement must include the following:

  • Name, position, address, telephone and email.
  • Background and areas/years of specialization.
  • Experience with state or national trade associations or policy discussions regarding debt collection issues.
  • Any certification or membership in state or national trade associations held by the applicant or the applicant’s business.

Member of ACA International and President of State Recovery Systems Inc.

Cindy Yaklin is ending her term on the committee and says that representation from the accounts receivable management (ARM) industry is critical.

“There needs to be more meaningful engagement and those who have strong industry experience and knowledge of licensing requirements, audits and examinations, complaint processes, and disputes and litigation should apply,” Yaklin said.

Advising DFPI on California’s new debt collection licensing process was a key part of the committee members’ role last year, and Yaklin said now that the department has begun issuing conditional licenses, there may be a focus on developing additional rules.

“DFPI has been receptive when we have offered suggestions and feedback thus far,” Yaklin said. “They need guidance on how other states have implemented processes, so they have a framework. The department needs information about how we operate our businesses, and we must continue to emphasize the importance and value-added benefit our industry provides to the business community, the stability of the economy, and the ability of consumers to access credit. .”

The DFPI Commissioner has identified the following priorities for industry appointments to the advisory committee:

  • Location within California; geographic representation is preferred (but not required).
  • Small and large agencies.
  • Owner, corporate officer, or high-level employees of licensees or debt collector applicants.
  • Representation of different industry segments required to obtain a license, including:
    • Third Party Collection Agencies
    • Debt purchasing companies (preference for the Accounts Receivable Management Certification Program)
    • Collection Law Firms
  • Industry leadership through participation in state and national trade associations.
  • Direct experience working with clients, consumers, auditors and licences.
  • Experience with types of debt collection, including financial, educational, medical, retail, municipal, and others.
  • Diversity of backgrounds and experiences.

“They need to hear from committee members about the challenges we face with increased compliance and regulations at the federal and state levels that are too burdensome for businesses and create no additional benefit for consumers who are already experiencing financial hardship,” Yaklin . saying.

Yaklin said any ACA member interested in applying and getting more information can contact her at E-mail.

Forms or statements of qualifications must be sent to [email protected] before February 23, 2023.

Current member terms expire in April 2023. New appointments will be announced in April 2023 for the next term.

For full details, visit the DFPI application process webpage

If you have executive leadership updates or other member news to share with ACA, please contact our communications department at [email protected]. See our publications page for more information and our news submission guidelines here.

Join the conversation on The Hub

Subscribe to Our Publications

Advertising Media Kit

ACA Events Calendar

Facebook LinkedIn Twitter Youtubeinstagram



Source