California Department of Financial Protection and Innovation assures debt collectors that delays in accessing licensing applications through the Nationwide Multistate Licensing System will not result in regulatory action.
California Department of Financial Protection and Innovation reminds debt collectors to apply for a license, required by the Debt Collection Licensing Act, by Dec. 31 to continue operating next year.
A.B. 1020, a health care debt and fair billing law that imposes new restrictions on hospital debt collection and charity care requirements, takes effect Jan. 1. The California Association of Collectors Inc. advocated for several amendments to the law and has FAQs available to help with compliance.
ACA International’s licensing team has resources to help with the California Department of Financial Institutions licensing application requirements for debt collectors by Dec. 31.