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COVID-19 rental debt cannot be sold or assigned before July 1, 2021. Starting July 1, 2021, COVID-19 rental debt cannot be sold or assigned if the debt pertains to a person “who would have qualified for rental assistance funding” under California’s emergency rental assistance program if “the person’s household income is at or below 80 percent of the area median income for the 2020 calendar year.” Creditors cannot charge or attempt to collect late fees for COVID-19 rental debt if the renter has submitted a “declaration of COVID-19-related financial distress.” With limited exceptions, those collecting COVID-19 rental debt in court must submit documentation showing that they have made “a good faith effort to investigate whether governmental rental assistance is available to the tenant, seek governmental rental assistance for the tenant, or cooperate with the tenant’s efforts to obtain rental assistance from any governmental entity, or other third party ....
rd. The proposed regulations for Debt Collection Licensing Act will be installed in Title 10, California Code of Regulations, Subchapter 11.3 “Debt Collection Licensing Act.” A copy of the proposed rulemaking text is The proposed rulemaking would adopt the license application forms, requirements to obtain a license as a debt collector, and other requirements related to licensure such as surety bonds, copies of debt collection documents to be sent to consumers, pre-licensure reporting of debt collection activity in California, and the inclusion of any Affiliates that also engage in California debt collection to be listed under a single enterprise license. The proposed regulations require applicants to apply for and maintain their debt collection license through the ....
California DFPI Seeks Comments on Debt Collection License Application and Requirements The California state regulator is seeking input on electronic licensing and grounds for denying a license, among other changes, by June 8, 2021. 4/27/2021 12:00 PM News The California Department of Financial Protection and Innovation (DFPI) has filed a Notice of Proposed Rulemaking to add to the agency’s licenses application process. The Debt Collection Licensing Act was signed into law in September 2020, as was legislation to create the DFPI essentially a state version of the Consumer Financial Protection Bureau. The DFPI will include oversight of debt collectors and emerging financial technology products, ACA International previously reported. ....
California DFPI Issues Notice of Proposed Rulemaking Regarding Debt Collection Licensing Application and Requirements Published on: 26 April 2021 at 08:00 a.m. ET April 26, 2021, 8 a.m. April 26, 2021, 9:29 a.m. insideARM.com The iA Institute http://www.insidearm.com/news/00047298-california-dfpi-issues-notice-proposed-ru/ SACRAMENTO, Calif. The Department of Financial Protection and Innovation has filed a Notice of Proposed Rulemaking with the Office of Administrative Law. The Commissioner of the Department of Financial Protection and Innovation, formerly the Commissioner of the Department of Business Oversight (“Commissioner”), is proposing adding the following sections to subchapter 11.3 of title 10 of the California Code of Regulations to adopt the license application and requirements to obtain a debt collection license under the Debt Collection Licensing Act (Cal. Fin. Code, § 100000, et seq.): ....
To embed, copy and paste the code into your website or blog: Every so often, the extent of state laws providing for the licensing of collection agencies needs to be re-examined. As every state, including two of the most prominent states, California and New York, historically had not licensed collection agencies, 1 the state licensing of collection agencies has not been given as much attention as has been given to the state licensing of other consumer finance activities. This changed in September 2020, when the California legislature, shortly before adjournment, enacted Senate Bill 908 to license debt collectors under a new law called the Debt Collection Licensing Act (the “DCLA”). ....