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Department of Financial Protection and Innovation (DFPI) › Debt Buyers › California

Orrick, Herrington & Sutcliffe LLP

California DFPI updates regulations under its Debt Collection Licensing Act

Orrick, Herrington & Sutcliffe LLP on

Recently, the California DFPI adopted updated regulations concerning the state’s Debt Collection Licensing Act. The DFPI established definitions and specific requirements for the term “net proceeds generated by California...more

Allen Matkins

NMLS Slowdown Frustrates Debt Collector License Applicants As Application Deadline Looms

Allen Matkins on

California had been one of 16 states that did not require licensing of debt collectors.  That changed last year with the enactment of the Debt Collection Licensing Act.  2020 Cal. Stats. ch. 163 (SB 908).   The law takes...more

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