News & Analysis as of

Debt Collection › Licensing Rules › Debt Buyers

Hudson Cook, LLP

Is Purchasing Debt Without a License an Unlawful Collection Activity?

Hudson Cook, LLP on

Folks in the consumer credit industry know that it can be easy to run afoul of collection restrictions. From the number of times you are allowed to contact a delinquent buyer to what you are allowed to say when you do make...more

Orrick, Herrington & Sutcliffe LLP

Nevada expands collection agency licensing requirements

Orrick, Herrington & Sutcliffe LLP on

On June 16, the Nevada governor signed SB 276 (the “Act”) to revise certain provisions relating to debt collection agencies and make amendments to the state’s collection agency licensing law. While existing law requires...more

Orrick, Herrington & Sutcliffe LLP

Wyoming to regulate debt buyers as collection agencies

Orrick, Herrington & Sutcliffe LLP on

On February 27, the Wyoming governor signed HB 284, which requires debt buyers to be licensed as “collection agencies” beginning July 1. Under the act, a collection agency now includes any person who operates as a debt buyer,...more

Hinshaw & Culbertson - Consumer Crossroads

Proposed California Debt Collection Licensing Regulations Raise Scope Concerns

Hinshaw & Culbertson - Consumer Crossroads on

Last month, the Department of Financial Protection and Innovation (DFPI) published proposed regulations under the Debt Collection Licensing Act (DCLA). The regulations largely address procedural matters related to obtaining a...more

Troutman Pepper Locke

California’s Debt Collection Licensing Act Moves One Step Closer to Becoming Law

Troutman Pepper Locke on

In a 9-3 vote earlier this month, the California Assembly Banking and Finance Committee approved legislation requiring a license for debt collectors and debt buyers, entitled the Debt Collection Licensing Act (SB 908) (DCLA)....more

Holland & Knight LLP

Federal Court: Unlicensed Debt Buyer Violates FDCPA - Is Ruling in Harmony with the New Jersey Consumer Finance Licensing Act?

Holland & Knight LLP on

• The U.S. District Court for the District of New Jersey has denied a defendant's motion to dismiss a putative statewide class action complaint that alleged that the defendant violated Section e(10) of the federal Fair Debt...more

Ballard Spahr LLP

Washington State AG Sues Debt Buyers for Operating Without a License

Ballard Spahr LLP on

On September 21, 2018, the Attorney General for the State of Washington filed a lawsuit (see complaint) against several companies engaged in purchasing charged-off consumer debts, for operating as “collection agencies”...more

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