AFSA Sends Letter to CA DFPI on Proposed Collection Rules
On Tuesday, October 5, AFSA’s State Government Affairs (SGA) team sent a letter to the California Department of Financial Protection and Innovation (DFPI) commenting on the DFPI’s proposed Debt Collection Licensing Act (DCLA) rules. Many AFSA member companies may be required to apply for licensure under the DCLA, and clear rules that take into account existing laws will benefit consumers and financial institutions alike. In the letter, AFSA requested that the DFPI amend current definitions to align with existing state and federal debt collection laws like California’s Rosenthal Act and the federal Fair Debt Collection Practices Act. In addition, AFSA requested that the DFPI provide clarity regarding DCLA exemptions so that the DCLA avoids duplicative and unnecessary requirements for licensees that already have to comply with other state and federal laws. AFSA also requested additional clarification regarding requirements for depository institutions and their affiliates.
The letter is also available under the direct advocacy section of AFSA’s website.
October 14th, 2021 by email@example.com