DBA International Adopts Changes to its Debt Buyer Certification Program
The DBA International Board of Directors and Certification Council have adopted version 2.0 of its Debt Buyer Certification Program. By creating a national standard for compliance and consumer communication, DBA International is able to ensure that its certified members are acting in an ethical and legally compliant manner. Its members’ practices exceed the consumer protection requirements of state and federal law.
Among the substantive changes in version 2.0 are adjustments to the data and document requirements, the addition of new standards concerning affidavits, representations and warranties, and payment processing. These enhancements incorporate recommendations received over the last year from state and federal regulatory agencies, consumer groups and DBA International members.
Many of the changes were suggested by the CFPB and the FTC. Both agencies favorably commented on the early stages of this program. Additionally, several originating creditors have incorporated the DBA International Certification Program into their due diligence and approval process; some have made Certification a pre-requisite for bidding on portfolios.
For Previously Certified Parties and Applications in Process: Certified Parties have six (6) months from the date of this notice or publication on the DBA website to conform and attest to conformity with the new Certification Standards in their next biennial application. Applicants submitting an application after the Council approved these new Certification Standards shall conform to the new Certification Standards before becoming certified.
DBA’s Certification Program consists of a company-based designation, the Certified Professional Receivables Company (CPRC), and an individual-based designation, the Certified Receivables Compliance Professional (CRCP).
Certification is a requirement for DBA International membership. Members have until 2016 to meet the certification requirements. More information on the DBA Certification Program is available at https://web.archive.org/web/20150219202950/http://www.dbainternational.org:80/certification/certification.asp.